Figure 4Steele Ltd. has the following information for January, February, and March 2011:Units producedUnits soldJanuary10,0007,000February10,000March10,0008,50010,500Production costs per unit (based on 10,000 units) are as follows:Direct materialsGHS12Direct labourVariable factory overheadFixed factory overheadVariable selling and admin. expensesFixed selling and admin. expenses4104There were no beginning inventories for January 2011, and all units were sold for GHS50. Costsare stable over the three months.21. Refer to Figure 4. What is the January ending inventory for Steele Ltd. Using the variablecosting method?a. GHS260,000b. GHS78,000c. GHS108,000d. GHS90,000

Name: Figure 4Steele Ltd. has the following information for January, Februa
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Description: Figure 4Steele Ltd. has the following information for January, February, and March 2011:Units producedUnits soldJanuary10,0007,000February10,000March10,0008,50010,500Production costs per unit (based on 10,000 units) are as follows:Direct materialsGH

Under variable costing, product cost include variable costs only.

Answered: - ending inventory for Steele Ltd.…

Business

Accounting

- ending inventory for Steele Ltd. Using the variable

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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