Answer the following question(s) using the information below.Gabe's Auto produces and sells an auto part for $30.00 per unit.In 2012, 100,000 parts were produced and 75,000 units were sold.Other information for the year includes:
-What is the inventoriable cost per unit using absorption costing?
Definitions:
Promissory Notes
Written promises to pay a specified sum of money to a named party on demand or at a determined future date.
Carrying Amount
The book value of assets and liabilities reported on the balance sheet, calculated as the original cost less any depreciation, amortization, or impairment costs.
Interest-Bearing
Referring to a financial instrument or account that generates interest income over time.
Promissory Note
A financial instrument that represents a written promise by one party to pay a specified sum of money to another party, either on demand or at a predetermined future date.
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