Question
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price $138 Units in
| A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: |
| Selling price | $138 |
| Units in beginning inventory | 0 |
| Units produced | 3,060 |
| Units sold | 2,500 |
| Units in ending inventory | 560 |
| Variable cost per unit: | |
| Direct materials | $41 |
| Direct labor | $17 |
| Variable manufacturing overhead | $14 |
| Variable selling and administrative | $9 |
| Fixed costs: | |
| Fixed manufacturing overhead | $113,220 |
| Fixed selling and administrative expenses | $32,500 |
| The total gross margin for the month under absorption costing is: |
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Financial Accounting
Authors: Libby, Short
6th Edition
978-0071284714, 9780077300333, 71284710, 77300335, 978-0073526881
