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In July, Econo Company purchased materials costing $21,000 and incurred direct labour cost of $18,000. Overhead totaled $32,000 for the month. Information on inventories was
In July, Econo Company purchased materials costing $21,000 and incurred direct labour cost of $18,000. Overhead totaled $32,000 for the month. Information on inventories was as follows: July 1 July 31 Materials $6200 $7100 Work in process $ 700 $1200 Finished goods $3300 $2700 If Econo Company sold 10,000 units during July and gross margin totaled $29,800, what was the sales price per unit? Question 9 options: 1) $9.94 2) $10.00 3) $10.09 4) $10.11
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