ABCO Inc. manufactures portable chairs with various logos.During the first year of operations, the company had the following data:

DescriptionCosts/UnitsDirect materials used $56,250Direct Labor 77,400Factory rent 48,000Equipment depreciation factory 32,100Equipment depreciation office 7,250Marketing expenses 12,500Administrative expenses 89,750Number of units started and produced during the year 47,500 units

Required:

1. What are the total product costs for the year? Show computation below.

1. What are the product costs per unit? Show computation below.

1. What are the total period costs for the year?Show computation below.

1. What is the net income for the year if 13,600 units are sold for $14.50 each? Show computation below.

1. What is the end of year balance for the Finished Goods inventory? Show computations below.