Hayes Inc. provided the following information for the current year: Beginning inventory Units produced Units sold 100 units 750 units 800 units Selling price 150/unit 2$ 35/unit Direct materials Direct labor 16/unit Variable manufacturing overhead Fixed manufacturing overhead Variable selling/administrative costs Fixed selling/administrative costs $ $24,000/year 2$ $15,500/year 15/unit 8/unit What is the unit product cost for the year using absorption costing?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Hayes Inc. provided the following information for the current year:
Beginning inventory
Units produced
100 units
750 units
Units sold
800 units
$
$4
2$
$
$24,000/year
Selling price
Direct materials
150 /unit
35/unit
Direct labor
16 /unit
Variable manufacturing overhead
Fixed manufacturing overhead
Variable selling/administrative costs
Fixed selling/administrative costs
15/unit
8/unit
$15,500/year
What is the unit product cost for the year using absorption costing?
Transcribed Image Text:Hayes Inc. provided the following information for the current year: Beginning inventory Units produced 100 units 750 units Units sold 800 units $ $4 2$ $ $24,000/year Selling price Direct materials 150 /unit 35/unit Direct labor 16 /unit Variable manufacturing overhead Fixed manufacturing overhead Variable selling/administrative costs Fixed selling/administrative costs 15/unit 8/unit $15,500/year What is the unit product cost for the year using absorption costing?
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