The accounting records for Moss Manufacturing Company included the following cost information relating to its first year of operations: $29,500 $41,000 $49,000 $11,000 Direct materials Direct labor Fixed manufacturing overhead Variable manufacturing overhead Assume the company produced 10,000 units of inventory and sold 6,100 of these units for $98,210. What amount of finished goods will be reported on the balance sheet at the end of the year under variable costing?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The accounting records for Moss Manufacturing Company included the following cost information relating to its first year of operations:
Direct materials
$29,500
$41,000
$49,000
$11,000
Direct labor
Fixed manufacturing overhead
Variable manufacturing overhead
Assume the company produced 10,000 units of inventory and sold 6,100 of these units for $98,210. What amount of finished goods will
be reported on the balance sheet at the end of the year under variable costing?
Multiple Choice
$67,785
$63,785
Transcribed Image Text:The accounting records for Moss Manufacturing Company included the following cost information relating to its first year of operations: Direct materials $29,500 $41,000 $49,000 $11,000 Direct labor Fixed manufacturing overhead Variable manufacturing overhead Assume the company produced 10,000 units of inventory and sold 6,100 of these units for $98,210. What amount of finished goods will be reported on the balance sheet at the end of the year under variable costing? Multiple Choice $67,785 $63,785
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