1. What were the alternatives you considered at the time of choice? 2. What were the perceived benefits of each considered alternative at the time of choice?
3. What action was taken; what choice was made?
4. What was the opportunity cost of that choice? (Remember that the opportunity cost of one alternative is the perceived benefits of the other alternative – the benefits that are given up. The benefit of doing something becomes the cost of not doing it.)
5. What are the pros and cons of being able to make a choice in this instance?

Kubin company’s relevant range of production is 18,000 to 22,000 units. when it produces and sells 20,000 units, its average costs per unit are as follows: average cost per unit direct materials $ 7.00 direct labor $ 4.00 variable manufacturing overhead $ 1.50 fixed manufacturing overhead $ 5.00 fixed selling expense $ 3.50 fixed administrative expense $ 2.50 sales commissions $ 1.00 variable administrative expense $ 0.50 required: 1. for financial accounting purposes, what is the total amount of product costs incurred to make 20,000 units? 2. for financial accounting purposes, what is the total amount of period costs incurred to sell 20,000 units? 3. for financial accounting purposes, what is the total amount of product costs incurred to make 22,000 units? 4. for financial accounting purposes, what is the total amount of period costs incurred to sell 18,000 units?