May 2010 was Jones Corp.'s first month of operations. During May, Jones produced 1,000 units of Product Q (the company's only product) and sold 900 of those units. Jones uses an actual costing system. The following costs were incurred in May:

Required:
a. For May 2010, what is the total production cost per unit of Product Q?
b. For May 2010, what is the total variable production cost per unit of Product Q?
c. For May 2010, what is the total conversion cost per unit of Product Q?
d. What is the total selling price per unit of Product Q?
e. In June 2010, Jones Corp. experiences the same per-unit variable costs and total fixed costs as it did in May. In June, however, Jones Corp. produces 1,200 units of Product Q. What is the June 2010 cost per unit for Product Q?

Question

May 2010 was Jones Corp.'s first month of operations. During May, Jones produced 1,000 units of Product Q (the company's only product) and sold 900 of those units. Jones uses an actual costing system. The following costs were incurred in May:
  
Required:
	a.	For May 2010, what is the total production cost per unit of Product Q?
	b.	For May 2010, what is the total variable production cost per unit of Product Q?
	c.	For May 2010, what is the total conversion cost per unit of Product Q?
	d.	What is the total selling price per unit of Product Q?
	e.	In June 2010, Jones Corp. experiences the same per-unit variable costs and total fixed costs as it did in May. In June, however, Jones Corp. produces 1,200 units of Product Q. What is the June 2010 cost per unit for Product Q?

Quizplus · Accepted Answer

The Answer of May 2010 was Jones Corp.'s first month of operations. During May, Jones produced 1,000 units of Product Q (the company's only product) and sold 900 of those units. Jones uses an actual costing system. The following costs were incurred in May:
  
Required:
	a.	For May 2010, what is the total production cost per unit of Product Q?
	b.	For May 2010, what is the total variable production cost per unit of Product Q?
	c.	For May 2010, what is the total conversion cost per unit of Product Q?
	d.	What is the total selling price per unit of Product Q?
	e.	In June 2010, Jones Corp. experiences the same per-unit variable costs and total fixed costs as it did in May. In June, however, Jones Corp. produces 1,200 units of Product Q. What is the June 2010 cost per unit for Product Q?

May 2010 Was Jones Corp