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Last year, a firm started to produce a single product with a unit selling price of $14. In the first year of operation standard capacity was 50,000 units, production was 50,000 units, and sales were 40,000 units. The actual costs incurred were:
Actual variable costs and fixed costs did not diverge from standard. Any under or overapplied overhead was written off directly at year end as an adjustment to the cost of goods sold. Using absorption costing, what was the unit cost of closing Inventory (to the nearest $1)? $________ |