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A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price $126 Units in beginning inventory 0 Units produced 2,630 Units sold 2,500 Units in ending inventory 130 Variable costs per unit: Direct materials $49 Direct labor $17 Variable manufacturing overhead $8 Variable selling and administrative $9 Fixed costs: Fixed manufacturing overhead $84,160 Fixed selling and administrative expenses | $17,500 The total gross margin for the month under absorption costing is: A. $50,000 B. $10,000 C. $96,700 D. $107,500

A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price $126 Units in beginning inventory 0 Units produced 2,630 Units sold 2,500 Units in ending inventory 130 Variable costs per unit: Direct materials $49 Direct labor $17 Variable manufacturing overhead $8 Variable selling and administrative $9 Fixed costs: Fixed manufacturing overhead $84,160 Fixed selling and administrative expenses | $17,500 The total gross margin for the month under absorption costing is: A. $50,000 B. $10,000 C. $96,700 D. $107,500

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 manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price $126 Units in beginning inventory 0 Units produced 2,630 Units sold 2,500 Units in ending inventory 130 Variable costs per unit: Direct materials $49 Direct labor $17 Variable manufacturing overhead $8 Variable selling and administrative $9 Fixed costs: Fixed manufacturing overhead $84,160 Fixed selling and administrative expenses | $17,500 The total gross margin for the month under absorption costing is: A. $50,000 B. $10,000 C. $96,700 D. $107,500
Transcribed Image Text:A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price $126 Units in beginning inventory 0 Units produced 2,630 Units sold 2,500 Units in ending inventory 130 Variable costs per unit: Direct materials $49 Direct labor $17 Variable manufacturing overhead $8 Variable selling and administrative $9 Fixed costs: Fixed manufacturing overhead $84,160 Fixed selling and administrative expenses | $17,500 The total gross margin for the month under absorption costing is: A. $50,000 B. $10,000 C. $96,700 D. $107,500
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