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Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962 Exercise 69
Cost Classification
Loring Company incurred the following costs last year:
Required:
1. Classify each of the costs using the following table format. Be sure to total the amounts in each column. Example: Direct materials, $216,000.
2. What was the total product cost for last year?
3. What was the total period cost for last year?
4. If 30,000 units were produced last year, what was the unit product cost?
Loring Company incurred the following costs last year:
Required:
1. Classify each of the costs using the following table format. Be sure to total the amounts in each column. Example: Direct materials, $216,000.
2. What was the total product cost for last year?
3. What was the total period cost for last year?
4. If 30,000 units were produced last year, what was the unit product cost?
Explanation
Verified
Verified
Product Cost:
A product cost is the cos...
Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
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