48 Murphy Inc., which produces a single product, has provided the following data for its...
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Accounting
48 Murphy Inc., which produces a single product, has provided the following data for its most recent month of operation:
| Number of units produced | 8,500 | |
| Variable costs per unit: | ||
| Direct materials | $ | 146 |
| Direct labor | $ | 72 |
| Variable manufacturing overhead | $ | 11 |
| Variable selling and administrative expenses | $ | 13 |
| Fixed costs: | ||
| Fixed manufacturing overhead | $ | 408,000 |
| Fixed selling and administrative expenses | $ | 153,000 |
The company had no beginning or ending inventories.
Required:
a. Compute the unit product cost under absorption costing.
b. Compute the unit product cost under variable costing.
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