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Gold Corporation reports the following first year production cost information: Units produced 185.000 units Units sold 80,000 units Sales price $35 per unit Direct labor
Gold Corporation reports the following first year production cost information: Units produced 185.000 units Units sold 80,000 units Sales price $35 per unit Direct labor $6 per unit Direct materials $2.50 per unit Variable overhead $340,000 in total Fixed overhead $595,000 in total Operating expenses (all fixed) $525,000 Complete the requirements below, showing as much of your work as is practical! a-Compute production cost per unit under absorption costing. b-Compute production cost per unit under variable costing c-Determine the net income using absorption costing. d--Compute the net income using variable costing e-What cost item is responsible for the difference between absorption and variable cost net income amounts
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