Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
Question
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Trio Company reports the following information for its first year of operations.
Direct materials
Direct labor
Variable overhead
Fixed overhead
Units produced
Units sold
Ending finished goods inventory
$ 14 per unit
$ 18 per unit
$ 5 per unit
$ 347,650 per year
20,450 units
17,500 units
2,950 units
Assume instead that Trio Company uses variable costing.
1. Compute the product cost per unit using variable costing.
2. Determine the cost of ending finished goods inventory using variable costing.
3. Determine the cost of goods sold using variable costing.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Required 3
Compute the product cost per unit using variable costing.
Product cost per unit of finished goods using:
Variable costing
Total product cost per unit
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Transcribed Image Text:Trio Company reports the following information for its first year of operations. Direct materials Direct labor Variable overhead Fixed overhead Units produced Units sold Ending finished goods inventory $ 14 per unit $ 18 per unit $ 5 per unit $ 347,650 per year 20,450 units 17,500 units 2,950 units Assume instead that Trio Company uses variable costing. 1. Compute the product cost per unit using variable costing. 2. Determine the cost of ending finished goods inventory using variable costing. 3. Determine the cost of goods sold using variable costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the product cost per unit using variable costing. Product cost per unit of finished goods using: Variable costing Total product cost per unit
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