A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price $ 174 Units in beginning inventory 50 Units produced 7,000 Units sold 6,000 Units in ending inventory 1,050 Variable costs per unit: Direct materials $ 55 Direct labor $ 52 Variable manufacturing overhead $ 7 Variable selling and administrative expense $ 5 Fixed costs: Fixed manufacturing overhead $ 238,000 Fixed selling and administrative expense $ 108,000 What is the total period cost for the month under variable costing

$376,000

Explanation:

The computation of the total period cost for the month under variable costing is shown below:

= Fixed manufacturing overhead + Fixed selling and administrative expense + units sold × Variable selling and administrative expense per unit

= $238,000 + $108,000 + 6,000 units × $5

= $238,000 + $108,000 + $30,000

= $376,000

We simply considered the selling and administrative expense and fixed manufacturing overhead cost

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turnover

the amount of money taken by a business in a particular period.