Perry Manufacturing Inc. disclosed the following cost information for 2023: • Direct materials = $75,000 • Direct labor = $95,000 • Fixed manufacturing overhead = $120,000 • Variable manufacturing overhead = $25,000 Assume the company produced 12,000 units of inventory, sold 7,500 units in 2023 for $245,000, and that there was no beginning finished goods inventory. What amount of ending finished goods inventory will be reported on the balance sheet under variable costing?

Perry Manufacturing Inc. disclosed the following cost information for 2023: • Direct materials = $75,000 • Direct labor = $95,000 • Fixed manufacturing overhead = $120,000 • Variable manufacturing overhead = $25,000 Assume the company produced 12,000 units of inventory, sold 7,500 units in 2023 for $245,000, and that there was no beginning finished goods inventory. What amount of ending finished goods inventory will be reported on the balance sheet under variable costing?

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter2: Accounting For Materials

Section: Chapter Questions

Problem 11E: Renfro, Inc. was franchised on January 1, 2016. At the end of its third year of operations, December...

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