https://r turnUrt 19 Thio Company reports the following information for the curr

ID: 2406308 • Letter: H

Question

https://r turnUrt 19 Thio Company reports the following information for the current year, which is its first year of operations. (Round intermediate calculations and finel answers to two decimal places.) 5 7.0e per unit Direct labor Overhend costs for the year $8.8 per unit Variable overhead Pixed overhead Units produced this year Units sold this year Ending finished goods Inventory in units s 111,609 per year s 210,909 per year 37,280 units 28,000 unSts 9,200 units the product cost per unit using variable per unit of finished goods using:Variable costing Cost per unit of finished goods 0.00 costing Number of units in finished goods Total cost of Sinished goods inventory the cost of per unit of goods sold Variable costing Number of units in sold goods otal cost of sold goods

Explanation / Answer

Answers

Cost per unit of Finished Goods using Variable costing

Direct Material

$ 7.00

Direct Labor

$ 8.00

Variable Overhead [$111,600 / 37,200 units produced]

$ 3.00

*Fixed manufacturing overhead do not form cost per unit under Variable costing

Cost per unit of finished goods

$ 18.00

No. of units in Finished goods

9,200

Cost per unit of finished goods

$ 18.00

C = A/B

Total cost of finished goods inventory

$ 165,600.00

No. of units in sold goods

28,000