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A manufacturer reports the following costs to produce 11,000 units in its first year of operations: direct materials, $11 per unit, direct labor, $7 per unit, variable overhead, $55,000, and fixed overhead, $143,000. Off 11,000 units produced, 10,500 were sold, and 500 remain in inventory at year-end. Under variable costing, the value of the inventory is: Multiple Choice O O O $9,000. $11,500. $18,000. $15.500. $8,000.

A manufacturer reports the following costs to produce 11,000 units in its first year of operations: direct materials, $11 per unit, direct labor, $7 per unit, variable overhead, $55,000, and fixed overhead, $143,000. Off 11,000 units produced, 10,500 were sold, and 500 remain in inventory at year-end. Under variable costing, the value of the inventory is: Multiple Choice O O O $9,000. $11,500. $18,000. $15.500. $8,000.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A manufacturer reports the following costs to produce 11,000 units in its first year of operations: direct materials, $11 per unit, direct labor, $7 per unit, variable overhead, $55,000, and fixed overhead, $143,000. Of the 11,000 units produced, 10,500 were sold, and 500 remain i inventory at year-end. Under variable costing, the value of the inventory is: Multiple Choice O O O $9.000. $11,500. $18.000. $15.500. $8,000.
Transcribed Image Text:A manufacturer reports the following costs to produce 11,000 units in its first year of operations: direct materials, $11 per unit, direct labor, $7 per unit, variable overhead, $55,000, and fixed overhead, $143,000. Of the 11,000 units produced, 10,500 were sold, and 500 remain i inventory at year-end. Under variable costing, the value of the inventory is: Multiple Choice O O O $9.000. $11,500. $18.000. $15.500. $8,000.
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