Pandora Brewing Company's planned production for the year just ended was 22,300 units. This production level was achieved, but only 19,700 units were sold. Other data follow: Direct material used $ 680,150 Direct labor incurred 350, 110 Fixed manufacturing overhead 452,690 Variable manufacturing overhead 209,620 Fixed selling and administrative expenses 383,560 Variable selling and administrative expenses 108, 155 Finished - goods inventory, January 1 None The cost per unit remained the same in the current year as in the previous year. There were no work-in- process inventories at the beginning or end of the year. Required: 1. What would be Pandora Brewing Company's finished - goods inventory cost on December 31 under the variable - costing

Pandora Brewing Company's planned production for the year just ended was 22,300 units. This production level was achieved, but only 19,700 units were sold. Other data follow: Direct material used $ 680,150 Direct labor incurred 350, 110 Fixed manufacturing overhead 452,690 Variable manufacturing overhead 209,620 Fixed selling and administrative expenses 383,560 Variable selling and administrative expenses 108, 155 Finished - goods inventory, January 1 None The cost per unit remained the same in the current year as in the previous year. There were no work-in- process inventories at the beginning or end of the year. Required: 1. What would be Pandora Brewing Company's finished - goods inventory cost on December 31 under the variable - costing

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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