Nathan Inc. provides the following cost information for producing 12,000 units of inventory during the current month: Cost Information Accounts Amounts Direct materials $56,000 Direct labor 78,000 Variable manufacturing overhead 28,000 Fixed manufacturing overhead 30,000 Variable Selling and Administrative Costs 28,000 Fixed Selling and Administrative Costs 15,000 There was no inventory at the beginning of the period. If 2,000 units of inventory remain unsold at the end of the period, compute the Costs of Goods Sold for the month under absorption costing would be: Group of answer choices $135,000 $160,000 $27,000 $32,000
Nathan Inc. provides the following cost information for producing 12,000 units of inventory during the current month: Cost Information Accounts Amounts Direct materials $56,000 Direct labor 78,000 Variable manufacturing overhead 28,000 Fixed manufacturing overhead 30,000 Variable Selling and Administrative Costs 28,000 Fixed Selling and Administrative Costs 15,000 There was no inventory at the beginning of the period. If 2,000 units of inventory remain unsold at the end of the period, compute the Costs of Goods Sold for the month under absorption costing would be: Group of answer choices $135,000 $160,000 $27,000 $32,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Nathan Inc. provides the following cost information for producing 12,000 units of inventory during the current month:
Cost Information| Accounts | Amounts |
|---|---|
| Direct materials | $56,000 |
| Direct labor | 78,000 |
| Variable manufacturing |
28,000 |
| Fixed manufacturing overhead | 30,000 |
| Variable Selling and Administrative Costs | 28,000 |
| Fixed Selling and Administrative Costs | 15,000 |
There was no inventory at the beginning of the period. If 2,000 units of inventory remain unsold at the end of the period, compute the Costs of Goods Sold for the month under absorption costing would be:
Group of answer choices
$135,000
$160,000
$27,000
$32,000
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