Ramort Company reports the following cost data for its single product. The company regularly sells...
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Accounting
Ramort Company reports the following cost data for its single product. The company regularly sells 16,000 units of its product at a price of $52.00 per unit.
| Direct materials | $ | 9.20 | per unit |
| Direct labor | $ | 11.20 | per unit |
| Overhead costs for the year | |||
| Variable overhead | $ | 2.20 | per unit |
| Fixed overhead per year | $ | 14,400.00 | |
| Selling and administrative costs for the year | |||
| Variable | $ | 1.20 | per unit |
| Fixed | $ | 64,400 | |
| Normal production level (in units) | 16,000 | units | |
Compute gross margin under absorption costing. (Round unit cost amounts to 2 decimal places.)
Production value
Cost of goods sold: 16,000 units
______
_____
_____
______
______
Cost of number of goods sold
Number of units sold
Total cost of goods sold
Ramort Company
Income statement (partial)
Sales volume
16, units
________
________
________
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