Use the following information for the Exercise below. (Algo) Skip to question [The following information applies to the questions displayed below.]
Trio Company reports the following information for its first year of operations. Direct materials $ 11 per unit Direct labor $ 25 per unit Variable overhead $ 5 per unit Fixed overhead $ 282,600 per year Units produced 23,550 units Units sold 18,500 units Ending finished goods inventory 5,050 units
Exercise 19-2 (Algo) Computing unit and inventory costs under variable costing LO P1
Assume instead that Trio Company uses variable costing.
1. Compute the product cost per unit using variable costing.
2. Determine the cost of ending finished goods inventory using variable costing.
3. Determine the cost of goods sold using variable costing.