Hopkins Ltd began operations on 1 January. The company sells a single product for
$100 per unit. During the year, 12,000 units were produced and 9,000 units were sold.
There was no work-in-process inventory at 31 December.

The company uses an actual cost system for product costing, and actual costs for the year were as follows:
                                   Fixed costs                              Variable costs
Direct materials                         0                           $24.00 per unit produced
Direct labor                                 0                           $30.00 per unit produced
Manufacturing overheads        $192,000                           $6.00 per unit produced
Selling and administrativeexpenses          $40,000                           $4.00 per unit sold

Required:
A. Determine the cost per unit using absorption costing.
B. Determine the cost per unit using variable costing.
C. Determine the finished goods inventory cost on 31 December using absorption costing.
D. Determine the finished goods inventory cost on 31 December using variable costing.
E. Determine absorption costing profit.