During the first year of operations, 18,000 units were manufactured and 13,500 units were sold. On August 31, Olympic Inc. prepared the following income statement based on the variable costing concept:
Olympic Inc.
Variable Costing Income Statement
For Year Ended August 31, 20-- Determine the unit cost of goods manufactured, based on a) the variable costing concept and b) the absorption costing concept.

Question

During the first year of operations, 18,000 units were manufactured and 13,500 units were sold. On August 31, Olympic Inc. prepared the following income statement based on the variable costing concept:
Olympic Inc.
Variable Costing Income Statement
For Year Ended August 31, 20--  Determine the unit cost of goods manufactured, based on a) the variable costing concept and b) the absorption costing concept.

Quizplus · Accepted Answer

The Answer of During the first year of operations, 18,000 units were manufactured and 13,500 units were sold. On August 31, Olympic Inc. prepared the following income statement based on the variable costing concept:
Olympic Inc.
Variable Costing Income Statement
For Year Ended August 31, 20--  Determine the unit cost of goods manufactured, based on a) the variable costing concept and b) the absorption costing concept.

During the First Year of Operations, 18,000 Units Were Manufactured