The Precision Widget Company had the following balances in t…

The Precision Widget Company had the following balances in their accounts at the end of the accounting period: Work-in-Process             $   5,000 Finished Goods                  35,000 Cost of Goods Sold          160,000   If their manufacturing overhead was overallocated by $8,000 and Precision Widget adjusts their accounts using a proration based on total ending balances, the revised ending balance for Cost of Goods Sold would be

Jean Peck’s Furniture manufactures tables for hospitality se…

Jean Peck’s Furniture manufactures tables for hospitality sector. It takes only bulk orders and each table is sold for $400 after negotiations. In the month of January, it manufactures 3,200 tables and sells 2,400 tables. Actual fixed costs are the same as the amount of fixed costs budgeted for the month.    The following information is provided for the month of January:           Variable manufacturing costs        $130 per unit                                                     Fixed manufacturing costs       $90,000 per month         Fixed Administrative expenses        $30,000 per month   At the end of the month Jean Peck’s Furniture has an ending inventory of finished goods of 800 units. The company also incurs a sales commission of $11 per unit.   What is the cost of goods sold per unit when using absorption costing?