MANAGERIAL ACCOUNTING HANDOUT PROBLEM 7 Score Name Section Problem (10 points) Pitt Company has the following data for 20X4 concerning its manufacturing operations PITT COMPANY DATA FOR 20X4 SALES AND MANUFACTURING OPERATIONS Selling price per unit Variable Variable operating cost per unit Total fixed manufacturing costs Total fixed 120 cost per t 95 500,000 costs 100,000 The company produced 100,000 units during the year and sold 90,000 of those units. REQUIRED: Answer the following questions related to the above data, showing appropriate calculations to support your answers. (I) What is the company's total revenue for the year? (2) What is the company's full absorption cost per unit? (3) What is the company's contribution margin per unit? (4) What is the company's total gross profit for the year? (5) What is the company's net income for the year under variable costing? (6 What is the value of the company's ending inventory under variable costing? 7 What is the company's net income for the year under full absorption costing? (8) What is the value of the company's ending inventory under full absorption costing