Lukin Corporation Reports the Following First Year Production Cost Information

question 136

Essay

Lukin Corporation reports the following first year production cost information.
$$\begin{array} { l l } \text { Units produced } & 62,000 \text { units } \\\text { Units sold } & 59,000 \text { units } \\\text { Direct labor } & \$ 41 \text { per unit } \\\text { Direct materials } & \$ 15 \text { per unit } \\\text { Variable overhead } & \$ 9,300,000 \text { in total } \\\text { Fixed overhead } & \$ 4,340,000 \text { in total }\end{array}$$
a.Compute production cost per unit under variable costing.
b.Compute production cost per unit under absorption costing.
c.Determine the cost of ending inventory using variable costing.
d.Determine the cost of ending inventory using absorption costing.

---

Definitions:

Perception Process

The cognitive process that enables us to interpret and understand our surroundings through the data acquired by our sensory organs.

Pollyanna Principle

The tendency for people to remember pleasant items more accurately than unpleasant ones, influencing a generally optimistic worldview.

Perceptual Selection

The process by which individuals filter and interpret sensory information to create a meaningful experience of the world.

Person Perceives

Refers to how an individual interprets or understands information from their environment through their senses.