Refer to the data for Judson Company below.
During the most recent year, Judson Company had the following data associated with the product it makes:
Units in beginning inventory .......................300
Units produced ...................................15,000
Units sold ($300 per unit) .......................12,700
Variable costs per unit:
Direct materials ......................................$20
Direct labor ..........................................$60
Variable overhead ...................................$12
Fixed costs:
Fixed overhead per unit produced ................$30
Fixed selling and administrative ............$140,000
Required:
1. How many units are in ending inventory?
2. Using absorption costing, calculate the per-unit product cost.
3. What is the value of ending inventory under absorption costing?