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Business, 07.03.2020 04:34 babyambs9570

Murphy Inc., which produces a single product, has provided the following data for its most recent month of operation:

Number of units produced 10,500
Variable costs per unit:
Direct materials $ 165
Direct labor $ 72
Variable manufacturing overhead $ 8
Variable selling and administrative expenses $ 9
Fixed costs:
Fixed manufacturing overhead $ 535,500
Fixed selling and administrative expenses $ 199,500
The company had no beginning or ending inventories.

Required:

a. Compute the unit product cost under absorption costing.

b. Compute the unit product cost under variable costing.

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