During January 20X3, Metro Co., which maintains a perpetual inventory system, recorded the following information pertaining to its inventory: Units Unit cost Total cost Units on hand Balance on 1/1/X3 1,000 $1 $1,000 1,000 Purchased on 1/7/X3 600 $3
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Chong Corporation recently prepared a manufacturing cost budget for an output of 50,000 units, as follows: Direct materials $100,000 Direct labor 50,000 Variable overhead 75,000 Fixed overhead 100,000 Actual units produced amounted to 60,000.
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