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Q1) Gregson Enterprises, in its 1st year of operations, provided the information given below:

Selling price per unit
$100
Direct material per unit
5
Direct labor per unit
1
Unit-related overhead per unit
6
Selling cost per unit
2
Batch-related overhead for the year
500,000
Facility-sustaining overhead for the year
800,000
Fixed administrative cost for the year
650,000
Units produced
20,000
Units sold
15,000

i) Compute Gregson absorption costing gross margin and profit?

ii) Compute Gregson variable contribution margin and profit?

iii) find out Gregson ending inventory using absorption costing?

iv) Determine Gregson ending inventory using variable costing?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M918927

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