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Autumn, Inc. has collected the following data for November (there are no beginning inventories): (Click the icon to view theRequirement 1. Using absorption costing, calculate the unit product cost. (Round your final answer to the nearest cent.) AbsoRequirement 2. Prepare an income statement using the traditional format. Autumn, Inc. Income Statement (Absorption Costing) F

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Answer #1

Unit product cost

Direct material 65
Direct labor 63
variable manufacturing overhead 14
Fixed manufacturing overhead (12375/750) 16.50
Unit product cost 158.50

Income statement

Sales (750*400) 300000
Cost of goods sold (750*158.50) 118875
Gross profit 181125
Selling and administrative expense (750*50+5100) 42600
Net income 138525
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