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Product Cost in Total and Per Unit Grin Company manufactures digital cameras. In January, Grin produced 5,250 cameras with the following costs: Direct materials $440,000 Direct labor 88,000 Manufacturing overhead 352,000 There were no beginning or ending inventories of WIP. Required: 1. What was the total product cost in January? 677,878 2. What was the product cost per unit in January? Round your answer to the nearest cent. %24 per unit %24

Product Cost in Total and Per Unit Grin Company manufactures digital cameras. In January, Grin produced 5,250 cameras with the following costs: Direct materials $440,000 Direct labor 88,000 Manufacturing overhead 352,000 There were no beginning or ending inventories of WIP. Required: 1. What was the total product cost in January? 677,878 2. What was the product cost per unit in January? Round your answer to the nearest cent. %24 per unit %24

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter2: Basic Managerial Accounting Concepts
Section: Chapter Questions
Problem 39E: Cost Classification Loring Company incurred the following costs last year: Required: 1. Classify...
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Product Cost in Total and Per Unit Grin Company manufactures digital cameras. In January, Grin produced 5,250 cameras with the following costs: Direct materials $440,000 Direct labor 88,000 Manufacturing overhead 352,000 There were no beginning or ending inventories of WIP. Required: 1. What was the total product cost in January? 677,878 2. What was the product cost per unit in January? Round your answer to the nearest cent. %24 per unit %24
Transcribed Image Text:Product Cost in Total and Per Unit Grin Company manufactures digital cameras. In January, Grin produced 5,250 cameras with the following costs: Direct materials $440,000 Direct labor 88,000 Manufacturing overhead 352,000 There were no beginning or ending inventories of WIP. Required: 1. What was the total product cost in January? 677,878 2. What was the product cost per unit in January? Round your answer to the nearest cent. %24 per unit %24
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