Examlex

Solved

McIntosh, Inc What Is the Unit Product Cost Using Variable Costing? (Round

question 59

Multiple Choice

McIntosh, Inc. reports the following information:  Beginning Finished Goods Inventory 50 units  Units produced 570 units  Units sold 620 units  Sales price $120 per unit  Direct materials $24 per unit  Direct labor $15 per unit  Variable manufacturing overhead $19 per unit  Fixed manufacturing overhead $15,500 per year  Variable selling and administrative costs $5 per unit  Fixed selling and administrative costs $13,500 per year \begin{array} { | l | r | l | } \hline \text { Beginning Finished Goods Inventory } & 50 & \text { units } \\\hline \text { Units produced } & 570 & \text { units } \\\hline \text { Units sold } & 620 & \text { units } \\\hline \text { Sales price } & \$ 120 & \text { per unit } \\\hline \text { Direct materials } & \$ 24 & \text { per unit } \\\hline \text { Direct labor } & \$ 15 & \text { per unit } \\\hline \text { Variable manufacturing overhead } & \$ 19 & \text { per unit } \\\hline \text { Fixed manufacturing overhead } & \$ 15,500 &\text { per year } \\\hline \text { Variable selling and administrative costs } & \$ 5 & \text { per unit } \\\hline \text { Fixed selling and administrative costs } & \$ 13,500& \text { per year } \\\hline\end{array} What is the unit product cost using variable costing? (Round your answer to the nearest cent.)

Analyze the effects of free trade and tariffs on market prices, quantities, and producer outcomes.
Understand how international trade agreements and policies affect national economies and global trade dynamics.
Evaluate the economic implications of trade policies on domestic industries and employment.
Understand the effects of tariffs and free trade on domestic supply and demand.

Definitions:

Real Rates

Real rates refer to the interest rates adjusted for inflation, representing the true cost of borrowing or the real yield on an investment.

Coupon Rates

The interest rate stated on a bond when issued, which represents the annual interest payment compared to the bond's face value.

Effective Rates

Interest rates adjusted for the compounding period, more accurately reflecting the true cost or yield of a financial product than the nominal rate.

Present Value

The present value of a future sum of money or cash flow series calculated with a particular rate of return.

Related Questions