P2-49B Indicate the missing data in the statement (Learning Objective 5)

Consider the following incomplete Cost of Goods Manufactured statements from two independent companies.

Cost of Goods Manufactured Statement Company A Company B Beginning work in process inventory $ 35,000 Plus: manufacturing costs incurred:

Direct materials used $ 98,000 Direct labor $ 66,000 $120,000 Manufacturing overhead:

Variable cost $118,000 Fixed cost $ 70,000 $

Total manufacturing costs to account for $354,500 $454,000 Less: Ending work in process inventory $ 23,000 Cost of goods manufactured $310,700 Income Statement Company A Company B Sales $985,000 Beginning finished goods inventory $ 69,800 $ 44,000 Plus: Cost of goods manufactured $310,700 Cost of goods available for sale Less: Ending finished goods inventory $ 48,300 Cost of goods sold $419,000 Gross profit $997,800 $566,000 Less: operating expenses Selling and marketing expenses $180,000 $ 98,000 General and administrative expenses $133,000 Operating Income $567,800 Additional information

• Company A sold 53,200 units of finished goods at the price of $25.

• Company B sold 24,625 units of finished goods, and ending finished goods inventory amounted to $56,000.

• Company A produced 55,000 units of product in the year at the variable cost of

$1.10 per unit.

• Manufacturing overhead for company B amounted to $218,000.

Requirements 1. Fill in the missing data in the statements above for both company A and B.

2. Compute the cost per unit of finish goods for company A.

3. Compute the selling price per unit for company B.