Pattison Products, Inc., began operations in October and manufactured $48,000$ units during the month with the following unit costs:

Direct materials $$5\mathrm{.}00$

Direct labor $3\mathrm{.}00$

Variable overhead $1\mathrm{.}50$

Fixed overhead$*7\mathrm{.}00$

Variable marketing cost $1\mathrm{.}20$

$*$ Fixed overhead per unit $=$ $$336,000/48,000$ units produced $=$ $$7$

Total fixed factory overhead is $$336,000$ per month. During October, $45,600$ units were sold at a price of $$22\mathrm{.}50,$ and fixed marketing and administrative expenses were $$120,400.$

Required:

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$1.$ Calculate the cost of each unit using absorption costing. Round your final answer to the nearest cent.

$fill in the blank $30700$ff$11$f$8$d$054\_1$

per unit

$2.$ How many units remain in ending inventory?

fill in the blank $30700$ff$11$f$8$d$054\_2$

units

What is the cost of ending inventory using absorption costing?

$fill in the blank $30700$ff$11$f$8$d$054\_3$

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$3.$ Prepare an absorption$-$costing income statement for Pattison Products, Inc., for the month of October.

Pattison Products, Inc.

Absorption$-$Costing Income Statement

For the Month of October

Sales

$Sales

Less: Cost of goods sold

Less: Cost of goods sold

Gross profit $fill in the blank $2$cbfaff$7$fff$8041\_5$

Less:

Variable marketing expenses

Variable marketing expenses

Fixed marketing and administrative expenses

Fixed marketing and administrative expenses

Operating income $fill in the blank $2$cbfaff$7$fff$8041\_10$

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$3.$ Absorption costing assigns all manufacturing costs $($fixed and variable$)$ of products sold as COGS.

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$4.$ What if November production was $48,000$ units, costs were stable, and sales were $49,000$ units? What is the cost of ending inventory?

$fill in the blank dd$302305$a$059076\_1$

What is operating income for November?