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butalik [34]
3 years ago
9

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

tions: Selling price $ 145 Units in beginning inventory 0 Units produced 2,440 Units sold 2,280 Units in ending inventory 160 Variable costs per unit: Direct materials $ 49 Direct labor $ 17 Variable manufacturing overhead $ 17 Variable selling and administrative expense $ 10 Fixed costs: Fixed manufacturing overhead $ 85,400 Fixed selling and administrative expense $ 22,800 The total gross margin for the month under absorption costing is:
Business
1 answer:
solong [7]3 years ago
8 0

Answer:

Results are below.

Explanation:

The absorption costing method includes all costs related to production, both fixed and variable. <u>The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead. </u>

<u>First, we need to calculate the unitary fixed manufacturing overhead:</u>

Unitary fixed overhead= 85,400/2,440= $35

<u>Absorption costing income statement:</u>

Sales= 2,280*145= 330,600

COGS= 2,280* (49 + 17 + 17 + 35)= (269,040)

Gross profit= 61,560

Total selling and administrative= 22,800 + (2,280*10)= (45,600)

Net income= 15,960

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