Exercise 9-6 For 20x4, Nichols, Inc. had sales of 75,000 units and production of 100,000 units. Other information for the year included: a. Direct manufacturing labor Variable manufacturing overhead Direct materials Required: b. Variable selling expenses Fixed administrative expenses Fixed manufacturing overhead There was no beginning inventory. $187,500 100,000 150,000 100,000 100,000 200,000 Compute the ending finished goods inventory under both absorption and variable costing. Compute the cost of goods sold under both absorption and variable costing.

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LutoSave 日 Off UnitlILabAssignment_Question1 O Search (Alt-Q) Protected View Home Insert Draw Page Layout Formulas Data Review View Help PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing fx Formula: Multiply, Subtract; Cell Referencing A D E F G H. K Formula: Multiply, Subtract; Cell Referencing Using Excel to Record Stock Entries Student Work Area PROBLEM Required: Provide input into cells shaded in yellow in this template. Select account names from the drop-down lists. Use cell references to the data area. Use mathematical formulas to calculate any amounts not given. On May 10, Jack Corporation issues common stock for cash. Shares of stock issued Par value per share 2,000 24 %24 10.00 Amount at which stock issued 18.00 Journalize the issuance of the stock. 10 11 Date Debit Credit 12 May 10 13 14 15 16 17 18 19 20 21 22 23 25 26 27 28 29 30 31 32 33 Enter Answer Ready 24

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