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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 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: $126 0 2,630 2,500 130 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 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: $126 0 2,630 2,500 130 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 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: $126 0 2,630 2,500 130 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 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: $126 0 2,630 2,500 130 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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