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G Question: ABC Manufacturing Company uses absorption costing for its financial reporting. The company produced 20,000 units during the month of June. The following
G Question: ABC Manufacturing Company uses absorption costing for its financial reporting. The company produced 20,000 units during the month of June. The following information is available for the month: Direct materials cost per unit: $10 Direct labor cost per unit: $5 Variable manufacturing overhead cost per unit: $3 Fixed manufacturing overhead cost: $60,000 Selling and administrative expenses (all fixed): $25,000 Beginning Finished Goods Inventory: 5,000 units Ending Finished Goods Inventory: 4,000 units Calculate the following: 1. Total Manufacturing Cost per Unit: Total Manufacturing Cost per Unit 2 Total Cost per Unit: Total Cost per Unit 3. Total Cost of Goods Manufactured: Total Cost of Goods Manufactured 4. Net Income for the Month: Net Income for the Month = Ensure to round off your answers to two decimal places.
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