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Tustin Corporation has provided the following data for its two most recent years of operation:...

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Accounting

Tustin Corporation has provided the following data for its two most recent years of operation:

Selling price per unit $ 68
Manufacturing costs:
Variable manufacturing cost per unit produced:
Direct materials $ 10
Direct labor $ 6
Variable manufacturing overhead $ 4
Fixed manufacturing overhead per year $ 220,000
Selling and administrative expenses:
Variable selling and administrative expense per unit sold $ 6
Fixed selling and administrative expense per year $ 61,000

Year 1 Year 2
Units in beginning inventory 0 1,000
Units produced during the year 11,000 10,000
Units sold during the year 10,000 7,000
Units in ending inventory 1,000 4,000

The unit product cost under variable costing in Year 1 is closest to:

Multiple Choice

$46.00

$26.00

$20.00

$40.00

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