In the first year of business, Shalton Inc. produced 55,000 products. During its first year, the company sold 50,000 products. Costs incurred during the year were as follows:

a. What was the actual production cost per unit under variable costing?

b. What was the actual production cost per unit under absorption costing?

c. What was variable cost of goods sold for the year under variable costing?

d. What was cost of goods sold for the year under absorption costing?

e. What was the value of ending inventory under variable costing?

f. What was the value of ending inventory under absorption costing?
g. How much fixed overhead was charged to expense for the year under variable costing?
h. How much fixed overhead was charged to expense for the year under absorption costing?

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Ingredients used.. Direct labor.... $280,000 120,000 Variable overhead 205,000 Fixed overhead.. 110,000 Variable selling expenses.. 25,000 Fixed selling and administrative expenses.. 1,000 Total actual costs.. $741,000