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Sheridan Company sells its product for $27 per unit. During 2022, it produced 26000 units and sold 15000 units (there was no beginning inventory). Costs
Sheridan Company sells its product for $27 per unit. During 2022, it produced 26000 units and sold 15000 units (there was no beginning inventory). Costs per unit are: direct materials $7, direct labour $6, and variable overhead $5. Fixed costs are: $312000 manufacturing overhead, and $91000 selling and administrative expenses. Cost of goods sold under absorption costing is
$502500.
$270000.
$780000.
$450000.
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