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Question - Acme Co. produces a single product. Information about the product for the past year is as follows:
Production (in units) 25,000
Sales (units) 23,000
Selling price/unit $26.00
Beg. Inventory (units) -0-
Variable costs per unit:
Direct materials $8.00
Direct labor $3.00
Variable overhead $1.80
Variable selling exps. $4.00
Fixed overhead $107,500
Fixed selling and admin. $26,800
Required -
1. What the unit product cost using absorption costing?
a. $17.10
b. $16.80
c. $12.80
d. $21.10
2. Refer to the data in question 1. What the unit product cost using variable costing?
3. Refer to the data in question 1. Using absorption costing, what the cost of goods sold?
a. $294,400
b. $393,300
c. $320,000
d. $427,500
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