141. Lukin Corporation reports the following first year production cost information: Units produced 62,000 units Units sold 59,000 units Sales price $350 per unit ...





141. Lukin Corporation reports the following first year production cost information:







































Units produced




62,000 units




Units sold




59,000 units




Sales price




$350 per unit




Direct labor




$41 per unit




Direct materials




$15 per unit




Variable overhead




$9,300,000 in total




Fixed overhead




$4,340,000 in total




Operating expenses




$1,000,000





a. Compute production cost per unit under variable costing.
b. Compute production cost per unit under absorption costing.
c. Determine the net income using variable costing.
d. Determine the net income using absorption costing.







142. Castaway Company reports the following first year production cost information:































Units produced




53,000 units




Units sold




51,000 units




Direct labor




$8 per unit




Direct materials




$4 per unit




Variable overhead




$2,173,000 in total




Fixed overhead




$3,339,000 in total





a. Compute production cost per unit under variable costing.
b. Compute production cost per unit under absorption costing.
c. Determine the cost of ending inventory using variable costing.
d. Determine the cost of ending inventory using absorption costing.







































May 15, 2022
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