At the end of the first year of operations, 4,200 units remained in the finished goods...
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At the end of the first year of operations, 4,200 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $31.90 Direct labor 20.50 Fixed factory overhead 5.20 Variable factory overhead 4.60 Determine the cost-of the finished goods Inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing Variable costing At the end of the first year of operations, 4,200 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $31.90 Direct labor 20.50 Fixed factory overhead 5.20 Variable factory overhead 4.60 Determine the cost-of the finished goods Inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing Variable costing
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Related Book For
Financial Accounting A User Perspective
ISBN: 978-0470676608
6th Canadian Edition
Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry
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