Unit sold2,000Units produced2,200Fixed manufacturing overhead₱44,000Variable manufacturing overhead12,000Fixed selling and administrative expenses18,000Variable selling and administrative expenses10,000Direct materials used30,000DIrect labor24,000Inventory, beginning in units24,000No work in process inventory Questions:1. Compute for the ending Finished Goods Inventory under Absorption costing.2. Compute for the Ending Finished Goods Inventory under Variable Costing method

The Only Difference between Absorption costing and Variable Costing is related to Fixed…

Answered: Compute for the ending Finished Goods…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 4CMA: A company is using process costing with the first-in, first-out (FIFO) method, and all costs are...

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Related questions

Question

Unit sold	2,000
Units produced	2,200
Fixed manufacturing overhead	₱44,000
Variable manufacturing overhead	12,000
Fixed selling and administrative expenses	18,000
Variable selling and administrative expenses	10,000
Direct materials used	30,000
DIrect labor	24,000
Inventory, beginning in units	24,000
No work in process inventory

Questions:

1. Compute for the ending Finished Goods Inventory under Absorption costing.
2. Compute for the Ending Finished Goods Inventory under Variable Costing method

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