Q7. (20 minutes, 15 marks)

Mahugh Company, which has only one product, has provided the following data concerning its most recent month of operations:

Selling price $122 Units in beginning inventory Units produced 8,300 Units sold 8,200 Units in ending inventory 100 Variable costs per unit: Direct materials $27 Direct labour 46 Variable manufacturing overhead 4 Variable selling and administrative 7 Fixed costs: Fixed manufacturing overhead $199,200 Fixed selling and administrative 106,600