- Polk Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2012, the company incurred the following costs.
Variable Cost per Unit
Direct materials —$8.10
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Get Help Now!Direct labor—–$2.65
Variable manufacturing overhead—-$6.21
Variable selling and administrative expenses—– $4.21
Fixed Costs per Year
Fixed manufacturing overhead– $254,184
Fixed selling and administrative expenses—$259,308
Polk Company sells the fishing lures for $27.00. During 2012, the company sold 81,000 lures and produced 95,200 lures.
Assuming the company uses variable costing, calculate Polk’s manufacturing cost per unit for 2012. (Round answer to 2 decimal places, e.g.10.50.)
Manufacturing cost per unit $16.96
In this case, would it be better to use the variable or absorption costing method, and why
Which method would lead to the best decision when a competitor is submitting a lower bid for your product?
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