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What is the unit product cost for the month

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Reference no: EM131817886

Question - Maga Company, which has only one product, has provided the following data concerning its most recent month of operations:

Selling price

$150


Units in beginning inventory

0

Units produced

3,100

Units sold

2,700

Units in ending inventory

400


Variable cost per unit:

Direct materials

$46

Direct labor

$50

Variable manufacturing overhead

$7

Variable selling and administrative

$11

Fixed costs:

Fixed manufacturing overhead

$86,800

Fixed selling and administrative

$8,100

Required:

What is the unit product cost for the month under variable costing?

What is the unit product cost for the month under absorption costing?

Prepare a contribution format income statement for the month using variable costing.

Prepare an income statement for the month using absorption costing.

Reference no: EM131817886

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