The Southern Corporation manufactures a single product and has the following cost structure:   Variable costs per unit:   Production $ 35 Selling and administrative $ 13 Fixed costs per year:   Production $96,320 Selling and administrative $84,760   Last year, 6,020 units were produced and 5,920 units were sold. There was no beginning inventory.   The carrying value on the balance sheet of the ending inventory of finished goods under variable costing would be:.

Q: company's net operating income for the year would be:

A: The Variable costing is a cost accounting method which includes only variable costs for producing…

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A: Variable cost is the cost which changes with change in production volume and fixed cost is the cost…

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Q: Mackenzie, Inc. has collected the following data.​ (There are no beginning​ inventories.)   Units…

A: Ending inventory units=Units produced-Units sold=600-550=50 units

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A: Given the following information: Chance Inc. sold 2,600 units of its product at a price of $114 per…

Q: unit cost of goods manufactured,

A: Variable costing refers to the concept which assigns the cost to inventory. Absorption costing…

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A: Net Income is the difference between total revenue and total expense of the business. Under…

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A: Introduction:- The computation of the ending inventory under variable costing as follows under:-…

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Q: Grainger Company produces only one product and sells that product for $90 per unit. Cost information…

A: Income statement is a financial statement that shows profitability, total revenue and total…

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.