Problem $2-64($Static$)$ Cost Concepts $($LO $2-1,6)$

Loretto Audio produced and sold $750$ units of the company's signature $($and only$)$ product in November. You have collected the following information from the accounting records:

Sales price $($per unit$)$

Manufacturing costs:

Fixed overhead $($for the month$)$

Direct labor $($per unit$)$

Direct materials $($per unit$)$

Variable overhead $($per unit$)$

Marketing and administrative costs:

Fixed costs $($for the month$)$

Variable costs $($per unit$)$

Required:

a$.$ Compute the following:

$\backslash$table$[[1.$ Variable manufacturing cost per unit.,$],[2.$ Full cost per unit.,$],[3.$ Variable cost per unit.,$],[4.$ Full absorption cost per unit.,$],[5.$ Prime cost per unit.,$],[6.$ Conversion cost per unit.,$]]$

$ $695$

$62,250$

$44$

$137$

$86$

$83,250$

$17$

Loretto Audio produced and sold $750$ units of the company's signature $($and only$)$ product in November. You have collected the following information from the accounting records:

$\backslash$table$[[$Sales price $($per unit$),695],[$Manufacturing costs:,$62,250],[$Fixed overhead $($for the month$),44],[$Direct labor $($per unit$),137],[$Direct materials $($per unit$),86],[$Variable overhead $($per unit$),83,250],[$Marketing and administrative costs:,$17],[$Fixed costs $($for the month$),]]$

Required:

a$.$ Compute the following:

$\backslash$table$[[1.$ Variable manufacturing cost per unit.,$],[2.$ Full cost per unit.,$],[3.$ Variable cost per unit.,$],[4.$ Full absorption cost per unit.,$],[5.$ Prime cost per unit.,$],[6.$ Conversion cost per unit.,$],[7.$ Profit margin per unit.,$],[8.$ Contribution margin per unit.,$],[9.$ Gross margin per unit.,$]]$