please answer within 30 minutes. At the end of the first year of operations, 4,600 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows:Direct materials$31.40Direct labor19.60Fixed factory overhead6.00Variable factory overheadDetermine 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 costingVariable costing5.30

Under the absorption costing, fixed factory overhead is treated as a product cost and added to the…

t the end of the first year of operations, 4,600 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials Direct labor Fixed factory overhead ariable factory overhead etermine 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 Wariable costing $31.40 19.60 6.00 5.30

t the end of the first year of operations, 4,600 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials Direct labor Fixed factory overhead ariable factory overhead etermine 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 Wariable costing $31.40 19.60 6.00 5.30

Managerial Accounting

15th Edition

ISBN:9781337912020

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

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

Chapter7: Variable Costing For Management analysis

Section: Chapter Questions

Problem 1E: At the end of the first year of operations, 21,500 units remained in the finished goods inventory....

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