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What is the unit product cost for the month

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Reference no: EM131997117

Question - The maffei company which has only one product has provided the following data concerning its most recent month of operations:

Selling price $175.00

Units in inventory 0

Units produced $9500

Units sold 8000

Units in ending inventory 1,500

Variable costs per unit

Direct materials $55

Direct labor $38

Variable manufacturing overhead $2

Variable selling and admin $10

Fixed costs

Fixed manufacturing overhead $300,000

Fixed selling and admin$125,000

Required -

a. What is the unit product cost for the month under the variable costing?

b. What is the unit product cost for the month under absorption costing?

c. Prepare an income statement for the month using the variable costing method?

d. Prepare an income statement for the month using the absorption costing method?

Reference no: EM131997117

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