Solution-Determine the cost of the finished goods inventory

Determine the cost of the finished goods inventory

Reference no: EM132716598

Problem - At the end of the first year of operations, 21,500 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows:

Direct materials $30

Direct labor 18

Fixed factory overhead 22

Variable factory overhead 14

Required - 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.

Reference no: EM132716598

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Determine the cost of the finished goods inventory

Reference no: EM132716598

Reference no: EM132716598

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