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Accounting

!
Required information
[The following information applies to the questions displayed below.]
Barnes Company reports the following for its product for its first year of operations.
Direct materials
Direct labor
Variable overhead
Fixed overhead
Variable selling and administrative expenses
Fixed selling and administrative expenses
$35 per unit
$25 per unit
$10 per unit
$48,000 per year
$3 per unit
$20,000 per year
The company sells its product for $150 per unit. Compute gross profit using absorption costing assuming the company (a) produces
and sells 2,000 units and (b) produces 2,400 units and sells 2,000 units.
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