Costmore Manufacturing has provided the following operating results for its first year operations: Beginning inventory of finished goods Units produced (no work in process) Units sold Units in ending inventory of finished goods Sales price Variable manufacturing costs Variable selling and administrative expenses Fixed manufacturing costs for the year Fixed selling and administrative expenses for the year Using the absorption costing method, the value of ending inventory of finished goods is: Mutiple Choice $90,000 $120,000 $150.000 $210,000 22,000 16,000 6,000 $ 55 per unit $ 15 per unit manufactured $ 8 per unit sold $ 110,000 $ 124,000
Costmore Manufacturing has provided the following operating results for its first year operations: Beginning inventory of finished goods Units produced (no work in process) Units sold Units in ending inventory of finished goods Sales price Variable manufacturing costs Variable selling and administrative expenses Fixed manufacturing costs for the year Fixed selling and administrative expenses for the year Using the absorption costing method, the value of ending inventory of finished goods is: Mutiple Choice $90,000 $120,000 $150.000 $210,000 22,000 16,000 6,000 $ 55 per unit $ 15 per unit manufactured $ 8 per unit sold $ 110,000 $ 124,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Costmore Manufacturing has provided the following operating results for its first year operations:
Beginning inventory of finished goods
Units produced (no work in process)
Units sold
Units in ending inventory of finished goods
Sales price
Variable manufacturing costs
Variable selling and administrative expenses
Fixed manufacturing costs for the year
Fixed selling and administrative expenses for the year
Using the absorption costing method, the value of ending inventory of finished goods is:
Multiple Choice
$90,000
$120,000
$150.000
$210,000
0
22,000
16,000
6,000
$ 55 per unit
$ 15 per unit manufactured
$ 8 per unit sold
$ 110,000
$ 124,000
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