Jennifer is studying the working papers from her client's 2025 income statement because her manager wants her to reconstruct that same income statement without the benefit of first seeing the finished product. She knows the client uses standard costing within its accounting system, but she has to figure out which inventory costing method it uses. The working paper shows the following details. No other variances were reported, and the prior year per-unit costs were the same as the 2025 per-unit costs. Gross margin Sales volume Budgeted production Beginning FG Inventory Ending FG Inventory Fixed-MOH volume variance (unfavorable) Operating income Sales $3,066 Inventory cost per unit 210 units 250 units 27 units 43 units $504 $660 $15,330 How much did the client capitalize into inventory on a per-unit basis? 20

Jennifer is studying the working papers from her client's 2025 income statement because her manager wants her to reconstruct that same income statement without the benefit of first seeing the finished product. She knows the client uses standard costing within its accounting system, but she has to figure out which inventory costing method it uses. The working paper shows the following details. No other variances were reported, and the prior year per-unit costs were the same as the 2025 per-unit costs. Gross margin Sales volume Budgeted production Beginning FG Inventory Ending FG Inventory Fixed-MOH volume variance (unfavorable) Operating income Sales $3,066 Inventory cost per unit 210 units 250 units 27 units 43 units $504 $660 $15,330 How much did the client capitalize into inventory on a per-unit basis? 20

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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