Lagan, Inc. collected the below data. (There is no starting inventory.) Produced units 600 units Sale price
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Question:
Lagan, Inc. collected the below data. (There is no starting inventory.)
Produced units | 600 | units |
Sale price | 140 dollars | per unit |
Direct materials | 50 Dollars | per unit |
direct labor | 11 dollars | per unit |
Variable production load | 6 dollars | per unit |
Fixed production load | $16,500 | per year |
Variable selling and management costs | 4 dollars | per unit |
Fixed selling and management costs | $12,500 | per year |
Required:
What is the closing balance in Inventory of Finished Goods using variable costing in the following cases?
400 units sold?
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