Exercise 2-50 and 2-51 (Algo) (LO 2-6)

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Madrid Corporation has compiled the following information from the accounting system for the one product it sells.

Sales price	$	760	per unit
Fixed costs (for the month)
Marketing and administrative	$	94,000
Manufacturing overhead	$	124,000
Variable costs (per unit)
Marketing and administrative	$	26
Direct materials	$	180
Manufacturing overhead	$	32
Direct labor	$	110
Units produced and sold (for the month)		2,000

Exercise 2-51 (Algo) Components of Full Costs (LO 2-6)

Required:

a. Calculate the product costs per unit.

b. Calculate the period costs for the period.