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QUESTION 10 Use the following information to answer the next 8 questions: Lily has the following information concerning production this period. 0 4000 3000 1000 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 10 5 3 2 80000 20000 Using absorption costing, please calculate the product cost per unit. Use the following information to answer the next 8 questions: Lily has the following information concerning production this period. Units in beginning inventory 0 Units produced 4000 Units sold 3000 Units in ending inventory 1000 Variable costs per unit: Direct materials 10 Direct labor Variable manufacturing overhead Variable selling and administrative 2 Fixed costs: Fixed manufacturing overhead 80000 Fixed selling and administrative 20000 Using absorption costing, please calculate the cost of goods sold expense for the period (again, don't use a dollar sign). 5 3 Lily has the following information concerning production this period. Units in beginning inventory 0 Units produced 4000 Units sold 3000 Units in ending inventory 1000 Variable costs per unit: Direct materials 10 Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead 80000 Fixed selling and administrative 20000 Using absorption costing, what is the value of ending inventory for the period (again, don't use a dollar sign). Nuno QUESTION 13 Use the following information to answer the next 5 questions: Lily has the following information concerning production this period. Units in beginning inventory 0 Units produced 4000 Units sold 3000 Units in ending inventory 1000 Variable costs per unit: Direct materials 10 Direct labor 5 Variable manufacturing overhead 3 Variable selling and administrative 2. Fixed costs: Fixed manufacturing overhead 80000 Fixed selling and administrative 20000 Lily sales each unit for $50. Using absorption costing, please calculate the gross margin for the period (again, d on't use a dollar sign)

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