Reference no: EM132825525

A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:

Units produced 7,200
Units sold 7,000
Beginning inventory 0
Selling price per unit $50
Direct materials per unit $6
Direct labor per unit $5
Variable manufacturing overhead per unit $14
Variable selling and administrative expense per unit $6
Total fixed manufacturing overhead $57,600
Total fixed selling and administrative expense $62,000

Problem 1. Calculate unit product cost under variable costing and absorption costing.

Problem 2. Prepare variable costing income statement for the month.

Problem 3. Prepare absorption costing income statement for the month.