Compute the unit product cost in each year

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Reference no: EM133906218

Problem

Parker Corporation has provided the following data for its two most recent years of operation. The company makes a product that it sells for $75 per unit. It began Year 1 with no units in beginning inventory. Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials $ 13 Direct labor $ 6 Variable manufacturing overhead $ 4 Fixed manufacturing overhead per year $ 112,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold $ 5 Fixed selling and administrative expense per year $ 71,000 Year 1 Year 2 Units produced during the year 8,000 7,000 Units sold during the year 7,000 4,000 Units in ending inventory 1,000 4,000 Assume the company uses variable costing. Get the instant assignment help. Compute the unit product cost in each year.

Reference no: EM133906218

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