The following data relates to ABC ltd for July 2004. There was no opening stock of finished units

Number of units completed 900

Number of units sold 800Cost incurred:

Direct material $2700

Direct labour 1800

Variable overhead 2500

Fixed overhead 1500

--------

8 500

Required:

Using both the absorption costing and variable costing methods determine

a) Unit cost of completed production for July

b) Value of closing inventory.

c) Cost of goods sold