Magpie Corporation uses the total cost method of product pricing. Below is cost information for the production and sale of 59,900 units of its sole product. Magpie desires a profit equal to a 19% return on invested assets of $554,000. Fixed factory overhead cost $36,700 Fixed selling and administrative costs 7,900 Variable direct materials cost per unit 5.15 Variable direct labor cost per unit 1.88 Variable factory overhead cost per unit 1.13 Variable selling and administrative cost per unit 4.50 The dollar amount of desired profit from the production and sale of Magpie's product is a.$105,260 b.$554,000 c.$210,520 d.$84,208

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.