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Natalka [10]
3 years ago
7

The Heartlake Corporation manufactures and sells toy gyroscopes. The following data is related to sales and production of the to

y gyroscopes for last year. Selling price per unit $8.20 Variable manufacturing costs per unit $1.84 Variable selling and administrative expenses per unit $4.95 Fixed manufacturing overhead (in total) $80,000 Fixed selling and administrative expenses (in total) $84,000 Units produced during the year 510,000 Units sold during year 170,000 Using absorption costing, what is gross profit for last month
Business
1 answer:
DerKrebs [107]3 years ago
6 0

Answer:

Gross profit= $814,300

Explanation:

Giving the following information:

Selling price per unit $8.20

Variable manufacturing costs per unit $1.84

Fixed manufacturing overhead (in total) $80,000

Units produced during the year 510,000

Units sold during year 170,000

<u>Under the absorption costing method, the unitary product cost is calculated using the variable manufacturing cost and the unitary fixed manufacturing overhead.</u>

<u>The gross profit is the result of deducting from sales the cost of goods sold</u>.

First, we need to calculate the unitary total cost:

Unitary cost= 1.84 + (80,000/510,000 units)= $3.41

Now, we can calculate the gross profit:

Gross profit= 170,000*8.2 - 170,000*3.41= $814,300

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Explanation:

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