Assume the following information for a company that produced 10,000 units and sold 9,000 units during its first year of operations: Per Unit Per Year Selling price $ 200 Direct materials $ 72 Direct labor $ 50 Variable manufacturing overhead $ 10 Sales commission $ 8 Fixed manufacturing overhead $ 300,000 Using variable costing, what is the cost of the company's ending inventory? Multiple Choice $ 132,000 $162,000 $140,000 $27,000

Assume the following information for a company that produced 10,000 units and sold 9,000 units during its first year of operations: Per Unit Per Year Selling price $ 200 Direct materials $ 72 Direct labor $ 50 Variable manufacturing overhead $ 10 Sales commission $ 8 Fixed manufacturing overhead $ 300,000 Using variable costing, what is the cost of the company's ending inventory? Multiple Choice $ 132,000 $162,000 $140,000 $27,000

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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Garfield Company has the following information for the current year: Beginning fixed manufacturing overhead in inventory Fixed manufacturing overhead in production Ending fixed manufacturing overhead in inventory $210,000 800,000 70,000 Beginning variable manufacturing overhead in inventory Variable manufacturing overhead in production Ending variable manufacturing overhead in inventory What is the difference between operating incomes under absorption costing and variable costing? OA. $10,000 OB. $80,000 O C. $100,000 O D. $140,000 $30,000 100,000 30,000
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Assume the following information for a company that produced 10,000 units and sold 9,000 units during its first year of operations: Per Unit Per Year Selling price $ 200 Direct materials $ 69 Direct labor $ 50 Variable manufacturing overhead $ 12 Sales commission $ 8 Fixed manufacturing overhead $ 300,000 Using variable costing, what is the company's contribution margin? Multiple Choice • $549,000 • $423,000 • $351,000 • $621,000
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