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Maisley Company decided to analyze certain costs for June of the current year. Units started into production equaled 28000 and ending work in process equaled 4000. With no beginning work in process inventory how much is the conversion cost per unit if ending work in process was 25% complete and total conversion costs equaled $140000?
Total Revenue
The total income a firm receives from selling its products; calculated as the quantity sold multiplied by the price per unit.
Total Cost
The sum of fixed and variable costs incurred by a business in the production of goods or services.
Profit
The financial gain achieved when the revenue gained from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.
Economic Profit
The disparity between total income and total outlays, considering both manifest and concealed costs.
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