Total variable costs?Variable cost per unit produced Variable cost per unit produced?If 75% of the units produced were sold, how much "Inventory" should be reflected in the balance sheet? Sep 110,000Sep 3018,000Raw materials inventoryWork in process inventory17,50012,000Materials purchased during SeptDirect labour cost paidIndirect labor cost paid85,00070,00015,000Total manufacturing overhead during Sept|(90% is variable)180,000Number of units produced10,000

Answer: Particulars Amount Materials 85000 Direct Labour cost 70000 Indirect…

Answered: Total variable costs? Variable cost per…

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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Total variable costs?
Variable cost per unit produced
Variable cost per unit produced?
If 75% of the units produced were sold, how much "Inventory" should be reflected in the balance sheet?

Sep 1
10,000
Sep 30
18,000
Raw materials inventory
Work in process inventory
17,500
12,000
Materials purchased during Sept
Direct labour cost paid
Indirect labor cost paid
85,000
70,000
15,000
Total manufacturing overhead during Sept
|(90% is variable)
180,000
Number of units produced
10,000

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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