ACC 349 Week 4 Team Assignment Problems Ch. 7

May 8th, 2015
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ACC 349 Week 4 Team Assignment Problems Ch. 7

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Team CWeek 4 LT Assignment - Textbook ExercisesACC/349P7-1A Blue Mountain Products manufactures and sells a variety of camping products. Recently the company opened a new plant to manufacture a light-weight, self-standing tent. Cost and sales data for the first month of operations are shown below.Manufacturing costs:Fixed overhead $200,000Variable overhead $4 per tentDirect labor $16 per tentDirect materials $40 per tentBeginning inventory 0 tentsTents produced 10,000Tents sold 9,000Selling and administrative costs:Fixed $400,000Variable $6 per tent soldThe tent sells for $150. Management is interested in the opening month's results and has asked for an income statement.Instructions(a) Assuming the company uses absorption costing, do the following.(i) Calculate the manufacturing cost per unit.Answer to (a) (i):Type of costAbsorptio

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