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Horngren'S Financial And Managerial Accounting
Found in: Page 938

Short Answer

Question: A completed job cost record shows the unit cost of the products. How is this calculated?

Answer:

The unit cost of the product is computed by dividing the cost of goods manufactured by the total units produced by the company.

See the step by step solution

Step by Step Solution

Step 1: Cost of goods manufactured

Cost of goods manufactured is defined as the company’s total cost of production during the reporting period. It is the total amount spent by the company to produce the goods

Step 2: Formula to compute the unit cost of the product

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