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What is the value of ending inventory using variable costing

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Reference no: EM132833239

Question - Richetti produces stereo speakers. The selling price per pair of speakers is $1,800. There is no beginning inventory.

Costs involved in production are:

Direct material $161

Direct labor $183

Variable manufacturing overhead $107

Total variable manufacturing costs per unit $451

Fixed manufacturing overhead per year $594,000

In addition, the company has fixed selling and administrative costs:

Fixed selling costs per year $200,500

Fixed administrative costs per year $102,400

During the year, Richetti produces 1,500 pairs of speakers and sells 1,200 pairs.

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

Reference no: EM132833239

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