Question
Sales ($ 46 per unit) Cost of goods sold ($31 per unit Gross margin Selling and administrative expenses Net income 20162017 $1,058,000 $ 1, 978,
Sales ($ 46 per unit) Cost of goods sold ($31 per unit Gross margin Selling and administrative expenses Net income 20162017 $1,058,000 $ 1, 978, 000 713,000 1,333,000 345,000 645,000 286,000 326, 000 $ 59,000 319,000 Additional Information a. Sales and production data for these first two years follow. Units produced Units sold 2016 2017 33,000 33,000 23,000 43,000 b. Variable cost per unit and total fixed costs are unchanged during 2016 and 2017. The company's $31 per unit product cost consists of the following. Direct materials Direct labor Variable overhead Fixed overhead (\$330,000/33,000 units) Total product cost per unit 8 7 10 $31 . Selling and administrative expenses consist of the following. 2016 2017
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