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Trio Company reports the following information for the current year, which is its first year of operations. Assume instead that Trio Company uses variable costing.
Trio Company reports the following information for the current year, which is its first year of operations. Assume instead that Trio Company uses variable costing. Direct materials Direct labor Variable overhead Fixed overhead 15 per unit $ 16 per unit Overhead costs for the year $ 4 per unit. $160,000 per year Units produced this year 20,000 units Units sold this year Ending finished goods inventory in units 14,000 units 6,000 units 1. Compute the product cost per unit using variable costing. Cost per unit of finished goods using: Variable costing Cost per unit of finished goods 2. Determine the cost of ending finished goods inventory using variable costing. Cost per unit of finished goods using: Number of units in finished goods Variable costing Total cost of finished goods inventory 3. Determine the cost of goods sold using variable costing Cost per unit of goods sold using: Number of units in sold goods Total cost of sold goods i Variable costing
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