Question
Lynch Company manufactures and sells a single product. The following costs were incurred during the companys first year of operations: Variable costs per unit: Manufacturing:
Lynch Company manufactures and sells a single product. The following costs were incurred during the companys first year of operations:
Variable costs per unit: Manufacturing: Direct materials ....................................... ... $6 Direct labor ................................................. $9 Variable manufacturing overhead ............. .. $3 Variable selling and administrative ................ . $4
Fixed costs per year: Fixed manufacturing overhead ....................... $300,000 Fixed selling and administrative ..................... $190,000
1) Compute the unit product cost by using absorption costing.
2) Compute the unit product cost by using product costing.
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