McIntosh, Inc. reports the following information: Beginning Finished Goods Inventory50unitsUnits produced540unitsUnits sold590unitsSales price$160per unitDirect materials$20per unitDirect labor$14per unitVariable manufacturing overhead$11per unitFixed manufacturing overhead$13,800per yearVariable selling and administrative costs$4per unitFixed selling and administrative costs$13,500per year What is the unit product cost using variable costing? (Round your answer to the nearest cent.)

Definition: Variable costing: It refers to the method of product costing in which the price of…

Answered: McIntosh, Inc. reports the following…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter7: Variable Costing For Management analysis

Section: Chapter Questions

Problem 1E: At the end of the first year of operations, 21,500 units remained in the finished goods inventory....

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McIntosh, Inc. reports the following information:

Beginning Finished Goods Inventory	50	units
Units produced	540	units
Units sold	590	units
Sales price	$160	per unit
Direct materials	$20	per unit
Direct labor	$14	per unit
Variable manufacturing overhead	$11	per unit
Fixed manufacturing overhead	$13,800	per year
Variable selling and administrative costs	$4	per unit
Fixed selling and administrative costs	$13,500	per year

What is the unit product cost using variable costing? (Round your answer to the nearest cent.)

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