Overton Company produced 80,000 units last year. The company sold 79,000 units and there was no beginning

Question:

Overton Company produced 80,000 units last year. The company sold 79,000 units and there was no beginning inventory. The company chose practical activity-at 80,000 units-to compute its predetermined overhead rate. Manufacturing costs are as follows: Direct materials $596,000Direct labor 104,000Variable overhead 88,000Fixed overhead 228,800
Required:
1. Calculate the cost of one unit of product under absorption costing.
2. Calculate the cost of one unit of product under variable costing.
3. Calculate the cost of under absorption costing.
4. Calculate the cost of under variable 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 =...