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What is the value of ending inventory using full costing

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Reference no: EM132939477

Question - Steering Manufacturing produces snow shovels. The selling price per snow shovel is $31.00. There is no beginning inventory.

Costs involved in production are:

Direct material $4.00

Direct labor $ 4.00

Variable manufacturing overhead $3.00

Total variable manufacturing costs per unit $11.00

Fixed manufacturing overhead per year $180,200

In addition, the company has fixed selling and administrative costs of $162,600 per year.

During the year, Steering produces 53,000 snow shovels and sells 48,270 snow shovels.

Required - What is the value of ending inventory using full costing?

Reference no: EM132939477

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