Okanagan Products manufactures Ogo Pogos, a line of stuffed toys. Variable manufacturing overhead is applied at the
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Okanagan Products manufactures Ogo Pogos, a line of stuffed toys. Variable manufacturing overhead is applied at the rate of $1.60 per labor-hour, and fixed manufacturing overhead at a rate of $2.00 per labor-hour. Actual costs were as follows:
During the period, 25,000 units were produced, and 23,800 units were sold at a selling price of $20 each. There were no beginning inventories.
a. Use T-accounts to trace the cost flows using variable costing.
h. Use T-accounts to trace the cost flows using full-absorption costing.
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