At the end of the first year of operations, 19,400 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows:Direct materials$21 Direct labor25 Fixed factory overhead17 Variable factory overhead13 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. O Chapter 21 HomeworkX : CengageNOWv2 | Online teach xO Excel Online Student Workx b Inventory valuation under abso x++ → C O about:blankExceltemplate - SavedSimplified RibbonFileHomeInsertFormulasDataReviewViewHelpTell me what you want to doA Editing vO CommentsArialВA vEv ab E Merge vCurrency.00.0.......00C15fxAEFHI1Inventory valuation under absorption costing and variable costing2At the end of the first year of operations, the number of units and the unit manufacturing costs were as follows:345DATA6 Units in the finished goods inventory19,400$217Direct materials8Direct labor259 Fixed factory overhead10 Variable factory overhead171311Using formulas and cell references, perform the required analysis, and input your answers into the Cost of Finished Goods column. Transfer the numeric12 results for the green entry cells (C15:C16) into the appropriate fields in CNOWV2 for grading.1314Cost of Finished GoodsFormulas15 a. Absorption costing16 b. Variable costing17181920212223242526272829303132A DataCalculation Mode: AutomaticWorkbook StatisticsGive Feedback to Microsoft- 100% +E O Chapter 21 Homework* CengageNowv2 | Online teach xb Inventory valuation under abso x+A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=falseChapter 21 HomeworkShow Me HowO Office 365еВookPrint Item1. EX.21.08.ALGOInventory valuation under absorption costing and variable costingAt the end of the first year of operations, 19,400 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows:2. PR.21.01A.BLANKSHEET.A...Direct materials$213. EX.21-01.EXCEL.ALGODirect labor25Fixed factory overhead174. EX.21-02.EXCEL.ALGOVariable factory overhead135. EX.21-03.EXCEL.ALGOThis information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below.6. BE.21.017. BE.21.01.ALGOOpen spreadsheet8. BE.21.02Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept.9. BE.21.03a. Cost of the finished goods inventory under the absorption costing:b. Cost of the finished goods inventory under the variable costing:10. BE.21.04.ALGOCheck My WorkPreviousNextProgress: 3/10 itemsAssignment Score: 1.72%All work saved.Email InstructorSave and ExitSubmit Assignment for Grading

Under absorption costing, total cost per unit will be taken for valuing ending inventory. But under…

Inventory valuation under absorption costing and variable costing At the end of the first year of operations, 19,400 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $21 Direct labor 25 Fixed factory overhead 17 Variable factory overhead 13 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet 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. a. Cost of the finished goods inventory under the absorption costing: b. Cost of the finished goods inventory under the variable costing:

Inventory valuation under absorption costing and variable costing At the end of the first year of operations, 19,400 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $21 Direct labor 25 Fixed factory overhead 17 Variable factory overhead 13 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet 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. a. Cost of the finished goods inventory under the absorption costing: b. Cost of the finished goods inventory under the variable costing:

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter3: Setting Up A New Company

Section: Chapter Questions

Problem 3.4C

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