Reed Productions has provided the following information for the year
Direct Labor $150,000
Beginning Work-in-Process Inventory 63,000
Direct Materials Used 269,000
Ending Work-in-Process Inventory 52,900
Manufacturing Overhead 135,000
During the year, Reed produced 71,220 units of product. Calculate the unit product cost. (Round your answer to the nearest cent.)
A) $7.92
B) $6.77
C) $7.78
D) $8.66
A .A)
Unit product cost: Cost of Goods Manufactured / Units produced
Unit product cost $7.92 per unit
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Indicate whether the statement is true or false