Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38,000 units at a price of $130 per unit.
Manufacturing costs
Direct materials per unit $54
Direct labor per unit $20
Variable overhead per unit $6
Fixed overhead for the year $506,000
Selling and administrative costs
Variable selling and administrative cost per unit $12
Fixed selling and administrative cost per year $115,000
Required:
Assume the company uses absorption costing. Determine its product cost per unit.
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Cool Sky reports the following costing data on its product for its first year of operations. During...
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