Beiber Boxers contribution income statement utilizing variable costing for 2020 variable costing appears below: Sales ($14 per unit) $84,000 Less variable costs: Cost of goods sold $36,000 Selling & administrative 9,000 45,000 Contribution margin 39,000 Less fixed costs: Manufacturing overhead 24,000 Selling & administrative costs 14,000 38,000 Net income $ 1,000 The company produced 8,000 units during the year. Variable and fixed production costs have remained constant the entire year. There were no beginning inventories. How much is the dollar value of the ending inventory using full costing? $18,000 $17,000 $15,000 $20,000 None of these answer choices are correct.
Beiber Boxers contribution income statement utilizing variable costing for 2020 variable costing appears below:
Sales ($14 per unit) $84,000
Less variable costs:
Cost of goods sold $36,000
Selling & administrative 9,000 45,000
Contribution margin 39,000
Less fixed costs:
Manufacturing
Selling & administrative costs 14,000 38,000
Net income $ 1,000
The company produced 8,000 units during the year. Variable and fixed production costs have remained constant the entire year. There were no beginning inventories. How much is the dollar value of the ending inventory using full costing?
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$18,000 |
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$17,000 |
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$15,000 |
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$20,000 |
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None of these answer choices are correct. |
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