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Wood Products Inc. has provided the following data for the previous year: Units sold during the previous year 12,000 units Selling price per unit $125
Wood Products Inc. has provided the following data for the previous year:
Units sold during the previous year | 12,000 units |
Selling price per unit | $125 |
Direct materials per unit | $25 |
Direct manufacturing labor per unit | $20 |
Variable manufacturing overhead per unit | $40 |
Fixed manufacturing costs | $150,000 |
Budgeted production at the beginning of the year | 15,000 units |
Variable marketing cost per unit | $5 |
Fixed marketing cost | $25,000 |
Number of units in opening inventory | 0 |
Number of units in ending inventory | 3,000 units
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What was the profit of Wood Products Inc. for the previous year if the method of inventory costing adopted was absorption costing?
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