Harvard Hats Company produces baseball caps. In May 2000, the company manufactured 20,000 caps. May sales were
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Harvard Hats Company produces baseball caps. In May 2000, the company manufactured 20,000 caps. May sales were 18,400 caps. The cost per unit for the 20,000 caps produced was
Direct material........... $3.00
Direct labor.............. 2.00
Variable overhead....... 1.00
Fixed overhead.......... 1.50
Total....................... $7.50
There was no beginning inventory for May.
a. What is the value of ending inventory using absorption costing?
b. What is the value of ending inventory using variable costing?
Ending InventoryThe ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...
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a Cost of goods manufactured 20000 x 750 150000 Cost of goods sold 18...View the full answer
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Related Book For 
Cost Accounting Traditions and Innovations
ISBN: 978-0324026450
4th edition
Authors: Barfield Jesse, Raiborn Cecily, Kinney Michael
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