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eBook Inventory Valuation under Absorption and Variable Costing San Remo Company produced 80,000 units...

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Accounting

eBook
Inventory Valuation under Absorption and Variable Costing
San Remo Company produced 80,000 units last year. The company sold 79,000 units and there was no beginning inventory. The company chose practical activity-at 80,000 units-to compute its predetermined overhead rate. Manufacturing costs are as follows:
Direct materials
Direct labour
Variable overhead
Fixed overhead
$721,160
125,840
106,480
276,848
Required:
Calculate the cost of one unit of product under absorption costing. Round your interim calculations and final answer to the nearest cent. Use rounded answer in subsequent requirements.
$
Calculate the cost of one unit of product under variable costing. Round your interim calculations and final answer to the nearest cent. Use rounded answer in subsequent requirements.
Calculate the cost of ending inventory under absorption costing.
Calculate the cost of ending inventory under variable costing.
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