Maffei Company, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 175

profileProfArgeol
 (Not rated)
 (Not rated)
Chat

Maffei Company, which has only one product, has provided the following data concerning its most recent month of operations:
Selling price $ 175

Units in beginning inventory 0
Units produced 9,500
Units sold 8,000
Units in ending Inventory 1,500

Variable costs per unit:
Direct materials $ 55
Direct labor $ 38
Variable manufacturing overhead $ 2
Variable selling and admin $ 10

Fixed costs:
Fixed manufacturing overhead $ 300,000
Fixed selling and admin $ 125,000
Required:
a. What is the unit product cost for the month under variable costing?
b. What is the unit product cost for the month under absorption costing?
c. Prepare an income statement for the month using the variable costing method.
d. Prepare an income statement for the month using the absorption costing method.

    • 10 years ago
    answer
    NOT RATED

    Purchase the answer to view it

    blurred-text
    • attachment
      maffei_company.docx