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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 2$ 138 3,390 Units sold 2,840 Units in ending inventory Variable costs per unit: Direct materials 550 24 51 Direct labor 2$ 16 Variable manufacturing overhead Variable selling and administrative expense 24 14 2$ 10 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $115,260 $ 17,940 The total gross margin for the month under absorption costing is: Multiple Choice $65,320

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 2$ 138 3,390 Units sold 2,840 Units in ending inventory Variable costs per unit: Direct materials 550 24 51 Direct labor 2$ 16 Variable manufacturing overhead Variable selling and administrative expense 24 14 2$ 10 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $115,260 $ 17,940 The total gross margin for the month under absorption costing is: Multiple Choice $65,320

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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The total gross margin for the month under absorption costing is: Multiple Choice $65,320 $19,880 $122,680 $133.480
Transcribed Image Text:The total gross margin for the month under absorption costing is: Multiple Choice $65,320 $19,880 $122,680 $133.480
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced 24 138 3,390 Units sold 2,840 Units in ending inventory Variable costs per unit: Direct materials 550 24 51 Direct labor 2$ 16 Variable manufacturing overhead Variable selling and administrative expense $ 14 2$ 10 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $115,260 $ 17,040 The total gross margin for the month under absorption costing is: Multiple Choice $65,320
Transcribed Image Text:A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced 24 138 3,390 Units sold 2,840 Units in ending inventory Variable costs per unit: Direct materials 550 24 51 Direct labor 2$ 16 Variable manufacturing overhead Variable selling and administrative expense $ 14 2$ 10 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $115,260 $ 17,040 The total gross margin for the month under absorption costing is: Multiple Choice $65,320
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