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*** NO SOLUTION STEPS ARE REQUIRED. JUST THE ANSWERS *** QUESTION: ANSWER SHEET: Ovation Company has a single product called a Bit. The company normally

*** NO SOLUTION STEPS ARE REQUIRED. JUST THE ANSWERS ***

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Ovation Company has a single product called a Bit. The company normally produces and sells 87,000 Bits each year at a selling price of $50 per unit. The company's unit costs at this level of activity are given below: 8.50 Direct materials 8.00 Direct labour 1.80 Variable manufacturing overhead Fixed manufacturing overhead 5.00 ($435,000 total) 3.70 Variable selling expenses Fixed selling expenses 3.50 ($304,500 total) Total cost per unit 30.50 A number of questions relating to the production and sale of Bits follow. Each question is independent

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