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Ramort Company reports the following cost data for its single product. The company regularly sells 23,500 units of its product at a price of $67.00

Ramort Company reports the following cost data for its single product. The company regularly sells 23,500 units of its product at a price of $67.00 per unit.

Direct materials $ 10.70 per unit
Direct labor $ 12.70 per unit
Overhead costs for the year
Variable overhead $ 3.70 per unit
Fixed overhead per year $ 72,900.00
Selling and administrative costs for the year
Variable $ 2.70 per unit
Fixed $ 65,900
Normal production level (in units) 23,500 units

Compute gross margin under absorption costing. (Round unit cost amounts to 2 decimal places.)

Production volume
Cost of goods sold: 23,500 units
Cost of goods sold per unit
Number of units sold
Total cost of goods sold
RAMORT COMPANY
Income Statement (partial)
Sales volume
23,500 units

A manufacturer reports the following information on its product.

Direct materials cost $ 45.00 per unit
Direct labor cost $ 11.50 per unit
Variable overhead cost $ 5.50 per unit
Fixed overhead cost $ 1.50 per unit
Target markup 40 %

Compute the target selling price per unit under absorption costing.

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