The Southern Corporation manufactures a single product and has the following cost structure:Variable costs per unit:ProductionSelling and administrative$$3514Fixed costs per year:Production$216,300$190,340Selling and administrativeLast year, 7,210 units were produced and 7,110 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:

The income statement can be prepared using various methods as variable costing and absorption…

The Southern Corporation manufactures a single product and has the following cost structure: Variable costs per unit: Production Selling and administrative Fixed costs per year: Production Selling and administrative Last year, 7,210 units were produced and 7,110 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: $ $ 35 14 $216,300 $190,340

The Southern Corporation manufactures a single product and has the following cost structure: Variable costs per unit: Production Selling and administrative Fixed costs per year: Production Selling and administrative Last year, 7,210 units were produced and 7,110 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: $ $ 35 14 $216,300 $190,340

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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The Southern Corporation manufactures a single product and has the following cost structure: Variable costs per unit: Production $ 33 Selling and administrative $ 16 Fixed costs per year: Production $ 130,830 Selling and administrative $ 107,280 Last year, 6,230 units were produced and 6,030 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:
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