Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 19-1 Computing unit and inventory costs under absorption costing LO P1 Trio Company reports the following information for the current year, which is its

Exercise 19-1 Computing unit and inventory costs under absorption costing LO P1

Trio Company reports the following information for the current year, which is its first year of operations.

Direct materials $ 14 per unit
Direct labor $ 20 per unit
Overhead costs for the year
Variable overhead $ 80,000 per year
Fixed overhead $ 160,000 per year
Units produced this year 20,000 units
Units sold this year 14,000 units
Ending finished goods inventory in units 6,000 units

Compute the product cost per unit using absorption costing.
Cost per unit of finished goods using: Absorption costing
Cost per unit of finished goods
Determine the cost of ending finished goods inventory using absorption costing.
Cost per unit of finished goods using: Absorption costing
Number of units in finished goods
Total cost of finished goods inventory
Determine the cost of goods sold using absorption costing.
Cost per unit of goods sold using Absorption costing
Number of units in sold goods
Total cost of sold goods

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Social Media A Governance And Risk Guide

Authors: Peter R. Scott, J. Mike Jacka

1st Edition

1118061756, 978-1118061756

More Books

Students also viewed these Accounting questions

Question

e (a) Weiphed averate und cost 62 125

Answered: 1 week ago