Triton Industries Reports the Following Information Regarding Its Production Cost

question 122

Essay

Triton Industries reports the following information regarding its production cost:
$\begin{array}{ll}\text { Units produced } & 77,000 \text { units } \\\text { Direct labor } & \$ 27 \text { per unit } \\\text { Direct materials } & \$ 12 \text { per unit } \\\text { Variable overhead } & \$ 2,541,000 \text { in tota } \\\text { Fixed overhead } & \$ 3,311,000 \text { in total }\end{array}$ a.Compute production cost per unit under variable costing.
b.Compute production cost per unit under absorption costing.

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Definitions:

Law of Equity

A branch of law that supplements common law by providing remedies and justice that are not available in traditional legal systems, focusing on fairness.

Common Law Courts

Courts that base their decisions on precedents or judicial rulings rather than written statutes.

Stare Decisis

A legal principle that obligates courts to follow historical cases when making a ruling on a similar current or future case.

Common Law

A legal system based on custom, court rulings, and precedent rather than statutory laws.