Coronado Industries sells its product for $80 per unit. During 2022, it produced 60000 units and sold 50000 units (there was no beginning inventory). Costs per unit are: direct materials $19, direct labor $13, and variable overhead $2. Fixed costs are: $660000 manufacturing overhead, and $60000 selling and administrative expenses. Ending inventory under variable costing is O $450000. O $340000. O $800000. O $1700000.

Coronado Industries sells its product for $80 per unit. During 2022, it produced 60000 units and sold 50000 units (there was no beginning inventory). Costs per unit are: direct materials $19, direct labor $13, and variable overhead $2. Fixed costs are: $660000 manufacturing overhead, and $60000 selling and administrative expenses. Ending inventory under variable costing is O $450000. O $340000. O $800000. O $1700000.

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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