Question: Problem #2 Ronald Inc. had the following information for the company's first two years of operations: Variable costs per unit Direct materials 524 Direct labor

Problem #2 Ronald Inc. had the following information for the company's first two years of operations: Variable costs per unit Direct materials 524 Direct labor 517 Variable manufacturing overhead $4 Variable selling and administrative Fixed costs per year. Fixed manufacturing overhead $320,000 Fixed selling and administrative expenses $90,000 During its first year of operations they produced 50,000 units and sold 40,000 units. The selling price of the company's product is $108 per unit. Required: 1. Calculate the cost per unit for year #1 2. Prepare an Income Statement for year #1 3. Calculate the cost per unit for year #1. 4. Prepare an Income Statement for year #1 |

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