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Exercise 9-6 For 20x4, Nichols, Inc. had sales of 75,000 units and production of 100,000 units. Other information for the year included: a. Direct manufacturing labor Variable manufacturing overhead Direct materials Required: b. Variable selling expenses Fixed administrative expenses Fixed manufacturing overhead There was no beginning inventory. $187,500 100,000 150,000 100,000 100,000 200,000 Compute the ending finished goods inventory under both absorption and variable costing. Compute the cost of goods sold under both absorption and variable costing.

Exercise 9-6 For 20x4, Nichols, Inc. had sales of 75,000 units and production of 100,000 units. Other information for the year included: a. Direct manufacturing labor Variable manufacturing overhead Direct materials Required: b. Variable selling expenses Fixed administrative expenses Fixed manufacturing overhead There was no beginning inventory. $187,500 100,000 150,000 100,000 100,000 200,000 Compute the ending finished goods inventory under both absorption and variable costing. Compute the cost of goods sold under both absorption and variable costing.

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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Exercise 9-6 For 20x4, Nichols, Inc. had sales of 75,000 units and production of 100,000 units. Other information for the year included: a. Direct manufacturing labor Variable manufacturing overhead Direct materials Required: b. Variable selling expenses Fixed administrative expenses Fixed manufacturing overhead There was no beginning inventory. $187,500 100,000 150,000 100,000 100,000 200,000 Compute the ending finished goods inventory under both absorption and variable costing. Compute the cost of goods sold under both absorption and variable costing.
Transcribed Image Text:Exercise 9-6 For 20x4, Nichols, Inc. had sales of 75,000 units and production of 100,000 units. Other information for the year included: a. Direct manufacturing labor Variable manufacturing overhead Direct materials Required: b. Variable selling expenses Fixed administrative expenses Fixed manufacturing overhead There was no beginning inventory. $187,500 100,000 150,000 100,000 100,000 200,000 Compute the ending finished goods inventory under both absorption and variable costing. Compute the cost of goods sold under both absorption and variable costing.
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