Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 4,400 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials Direct labor Fixed factory overhead $34.10 Variable factory overhead 14.80 6.40 5.60 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. ☑ Open spreadsheet Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing $ Variable costing s
Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 4,400 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials Direct labor Fixed factory overhead $34.10 Variable factory overhead 14.80 6.40 5.60 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. ☑ Open spreadsheet Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing $ Variable costing s
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Inventory Valuation under Absorption Costing and Variable Costing
At the end of the first year of operations, 4,400 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows:
Direct materials
Direct labor
Fixed factory overhead
$34.10
Variable factory overhead
14.80
6.40
5.60
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below.
☑
Open spreadsheet
Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept.
Absorption costing $
Variable costing s
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