During the most recent year, Morgan Company had the following data associated with the product it makes:

Question:

During the most recent year, Morgan Company had the following data associated with the product it makes:
Units in beginning inventory ....400
Units produced ........12,000
Units sold ($300 per unit) ....11,200
Variable costs per unit:
Direct materials ..........$25
Direct labor .............$80
Variable overhead .........$20
Fixed costs:
Fixed overhead per unit produced ....$30
Fixed selling and administrative...$140,000

Required:
1. How many units are in ?
2. Using absorption costing, calculate the per-unit product cost.
3. What is the value of under absorption costing?

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...