ACNT 2302 Hello I need help with the following question: value 16.66 points Ida

Question

ACNT 2302

Hello I need help with the following question:

value 16.66 points Ida Sidha Karya Company is a family-owned company located in the village of Glanyar on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $814. Selected data for the company's operations last year follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: 12,000 10,000 2,000 Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative S 160 $430 $ 50 $15 Fixed costs Fixed manufacturing overhead Fixed selling and administrative $650,000 $740,000 Required 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan Round your intermediate calculations and final answer to nearest whole dollar.) Unit product cost 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan Unit product cost

Explanation / Answer

1) Unit product cost under absorption costing :

2) Unit product cost under variable costing :

Direct material 160 Direct labour 430 Variable manufacturing overhead 50 Fixed manufacturing overhead (650000/12000) 54 Unit product cost 694

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