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Required information Exercise 19-3 (Static) Income statement under absorption costing and variable costing LO P1, P2 Skip to question [The following information applies to the
Required information
Exercise 19-3 (Static) Income statement under absorption costing and variable costing LO P1, P2
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[The following information applies to the questions displayed below.] Cool Sky reports the following for its first year of operations. The company produced 44,000 units and sold 36,000 units at a price of $140 per unit.
Direct materials | $ 60 | per unit |
---|---|---|
Direct labor | $ 22 | per unit |
Variable overhead | $ 8 | per unit |
Fixed overhead | $ 528,000 | per year |
Variable selling and administrative expenses | $ 11 | per unit |
Fixed selling and administrative expenses | $ 105,000 | per year |
What am I missing below:
1a. Assume the company uses absorption costing. Determine its total product cost per unit. Answer is complete but not entirely correct
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