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Required information [The following information applies to the questions displayed below.] Trio Company reports the following information for its first year of operations. $ 13 per unit $ 17 per unit $7 per unit Direct materials Direct labor Variable overhead Fixed overhead Units produced Units sold Ending finished goods inventory $220,950 per year 24,550 units 18,000 units 6,550 units 1. Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption costing.

Required information [The following information applies to the questions displayed below.] Trio Company reports the following information for its first year of operations. $ 13 per unit $ 17 per unit $7 per unit Direct materials Direct labor Variable overhead Fixed overhead Units produced Units sold Ending finished goods inventory $220,950 per year 24,550 units 18,000 units 6,550 units 1. Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption costing.

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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Required information [The following information applies to the questions displayed below.] Trio Company reports the following information for its first year of operations. $13 per unit $ 17 per unit $7 per unit Direct materials Direct labor Variable overhead Fixed overhead Units produced Units sold Ending finished goods inventory $ 220,950 per year 24,550 units 18,000 units 6,550 units 1. Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption costing.
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] Trio Company reports the following information for its first year of operations. $13 per unit $ 17 per unit $7 per unit Direct materials Direct labor Variable overhead Fixed overhead Units produced Units sold Ending finished goods inventory $ 220,950 per year 24,550 units 18,000 units 6,550 units 1. Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption costing.
1. Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the product cost per unit using absorption costing. Absorption costing Product cost per unit of finished goods using: Fixed overhead Direct materials Variable overhead. Direct labor X Answer is not complete. Product cost per unit 3333 IS 0
Transcribed Image Text:1. Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the product cost per unit using absorption costing. Absorption costing Product cost per unit of finished goods using: Fixed overhead Direct materials Variable overhead. Direct labor X Answer is not complete. Product cost per unit 3333 IS 0
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