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TranscribedText: Trio Company reports the following information for its first year of operations. Direct materials $ 17 per unit Direct labor $ 18 per unit Variable overhead $ 6 per unit Fixed overhead $ 201,000 per year Units produced 20, 100 units Units sold 15,000 units Ending finished goods inventory 5,100 units 1. Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption 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 absorption costing. Product cost per unit of nished goods using: Absorption costing Required 1 Required 2 Required 3 Determine the cost of ending finished goods inventory using absorption costing. Cost per unit of finished goods using: Absorption costing Product cost per unit Number of units in finished goods Cost of ending finished goods inventoryRequired 1 Required 2 Required 3 Determine the cost of goods sold using absorption costing. Cost per unit of goods sold using: Absorption costing Irio Company reports the following information for its first year of operations. Direct materials $ 17 per unit Direct labor $ 18 per unit Variable overhead $ 6 per unit Fixed overhead $ 201, 000 per year Units produced 20, 100 units Units sold 15 , 000 units Ending finished goods inventory 5, 100 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 per unitRequired 1 Required 2 Required 3 Determine the cost of ending finished goods inventory using variable costing. Cost per unit of finished goods using: Variable costing Total product cost per unit Number of units in finished goods Cost of ending finished goods inventoryRequired 1 Required 2 Required 3 Determine the cost of goods sold using variable costing. Cost per unit of goods sold using: Variable costing Total product cost per unit Number of units sold Cost of sold goods Barnes Company reports the following for its product for its first year of operations. Direct materials $ 35 per unit Direct labor 30 per unit Variable overhead $ 10 per unit Fixed overhead $ 45, 000 per year Variable selling and administrative expenses $ 4 per unit Fixed selling and administrative expenses $ 23 , 000 per year Compute total product cost per unit using absorption costing for the following production levels: (a) 1,500 units, (b) 1,800 units, and (c) 3,000 units. Units produced Product cost per unit using absorption costing 1,500 1,800 3,000 Total product cost per unitBarnes Company reports the following for its product for its rst year of operations. Direct materials $ 35 per unit Direct labor $ 30 per unit Variable overhead 5 10 per unit Fixed overhead $ 45,000 per year Variable selling and administrative expenses $ 4 per unit Fixed selling and administrative expenses $ 23,000 per year The company sells its product for $180 per unit. Compute gross profit using absorption costing assuming the company (a) produces and sells 1,500 units and (b) produces 1,800 units and sells 1,500 units. Gross prot Barnes Company reports the following for its product for its rst year of operations. Direct materials $ 35 per unit Direct labor $ 30 per unit Variable overhead $ 10 per unit Fixed overhead $ 45,000 per year Variable selling and administrative expenses 5 4 per unit Fixed selling and administrative expenses $ 23,000 per year The company sells its product for $180 per unit. Compute contribution margin using variable costing assuming the company (a) produces and sells 1,500 units and (b) produces 1,800 units and sells 1,500 units. Variable expenses Contribution margin Sims Company began operations on January 1. Its cost and sales information for this year follow. Direct materials $ 35 per unit Direct labor 5 55 per unit Variable overhead $ 30 per unit Fixed overhead $ 7,700,000 per year Variable selling and administrative expenses $ 11 per unit Fixed selling and administrative expenses $ 4,250,000 per year Units produced 110,000 units Units sold 80,000 units Sales price $ 360 per unit 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing' Complete this question by entering your answers in the tabs below. Required 1 Required 2 Sims Company began operations on January 1. Its cost and sales information for this year follow. Direct materials 3 35 per unit Direct labor $ 55 per unit Variable overhead $ 30 per unit Fixed overhead $ 7,700,000 per year Variable selling and administrative expenses 3 11 per unit Fixed selling and administrative expenses $ 4,250,000 per year Units produced 110,000 units Units sold 80,000 units Sales price $ 360 per unit 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using absorption costing

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Trio Company reports the following information for its first year of operations. Direct materials Direct labor Variable overhead $ 17 per unit $ 18 per unit Fixed overhead Units produced Units sold Ending finished goods inventory $ 6 per unit $ 201,000 per year 20,100 units 15,000 units 5,100 units 1. Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption 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 absorption costing. Product cost per unit of finished goods using: Absorption costing Trio Company reports the following information for its first year of operations. Direct materials Direct labor Variable overhead $ 17 per unit $ 18 per unit Fixed overhead Units produced Units sold Ending finished goods inventory $ 6 per unit $ 201,000 per year 20,100 units 15,000 units 5,100 units 1. Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption 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 absorption costing. Product cost per unit of finished goods using: Absorption costing

Answer rating: 100% (QA)

Answer Absorption costing assigns all manufacturing costs both variable and fixed to each unit produ... View the full answer