Information from the records of the Abel Corporation for July 2018 was as follows: Sales $1,230,000 Selling and administrative expenses 210,000 Direct materials used 264,000 Direct labor 300,000 Factory overhead * 405,000 *variable overhead is $205,000, fixed overhead is $200,000   Inventories   July 1, 2018 July 31, 2018 Direct materials $36,000   $42,000   Work in process 75,000 84,000 Finished goods 69,000 57,000 The variable product costs are a.$769,000 b.$969,000 c.$764,000 d.$1,179,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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  1. Information from the records of the Abel Corporation for July 2018 was as follows:

    Sales $1,230,000
    Selling and administrative expenses 210,000
    Direct materials used 264,000
    Direct labor 300,000
    Factory overhead * 405,000

    *variable overhead is $205,000, fixed overhead is $200,000

      Inventories
      July 1, 2018 July 31, 2018
    Direct materials $36,000   $42,000  
    Work in process 75,000 84,000
    Finished goods 69,000 57,000

    The variable product costs are
    a.$769,000
    b.$969,000
    c.$764,000
    d.$1,179,000
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