TamuGold produces variety of furniture. One of the products is a bedroom set. The selling price...

 

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TamuGold produces variety of furniture. One of the products is a bedroom set. The selling price of the bedroom is RM8,000. The data relating to the operations for the 2020 are as follows: Units in beginning inventory Units produced Units sold 125 1,275 1,300 Units in ending inventory 100 Variable costs per unit: Direct materials RM900 Direct labor RM1,000 Variable manufacturing overhead RM400 Variable selling and administrative RM150 Total variable cost per unit RM2,450 Fixed Costs: Fixed manufacturing overhead RM255,000 Fixed selling and administrative RM475,000 Total fixed costs RM730,000 The beginning inventory of the bedroom set had the same unit cost as produced during the year. Required: a) Compute unit cost for one bedroom set using: i. the variable costing method. ii. the absorption costing method. TamuGold produces variety of furniture. One of the products is a bedroom set. The selling price of the bedroom is RM8,000. The data relating to the operations for the 2020 are as follows: Units in beginning inventory Units produced Units sold 125 1,275 1,300 Units in ending inventory 100 Variable costs per unit: Direct materials RM900 Direct labor RM1,000 Variable manufacturing overhead RM400 Variable selling and administrative RM150 Total variable cost per unit RM2,450 Fixed Costs: Fixed manufacturing overhead RM255,000 Fixed selling and administrative RM475,000 Total fixed costs RM730,000 The beginning inventory of the bedroom set had the same unit cost as produced during the year. Required: a) Compute unit cost for one bedroom set using: i. the variable costing method. ii. the absorption costing method.