What would be NUBD's finished goods inventory at December 31, 2021 under the absorption costing method? * Do not use money sign (P). Sample format: 111,111 NUBD Company began its operations on January 1, 2021, and produces a single product that sells for P10 per unit. NUBD uses an actual cost system. In 2021, 100,000 units were produced and 80,000 units were sold. There was no work in process inventory at December 31, 2021. Manufacturing costs and selling and administrative expenses for 2021 were as follows: Fixed costs Variable costs Raw material Direct labor Factory overhead Selling and administrative P2.00 per unit produced P1.25 per unit produced P0.75 per unit produced P1.00 per unit sold P120,000 70,000
What would be NUBD's finished goods inventory at December 31, 2021 under the absorption costing method? * Do not use money sign (P). Sample format: 111,111 NUBD Company began its operations on January 1, 2021, and produces a single product that sells for P10 per unit. NUBD uses an actual cost system. In 2021, 100,000 units were produced and 80,000 units were sold. There was no work in process inventory at December 31, 2021. Manufacturing costs and selling and administrative expenses for 2021 were as follows: Fixed costs Variable costs Raw material Direct labor Factory overhead Selling and administrative P2.00 per unit produced P1.25 per unit produced P0.75 per unit produced P1.00 per unit sold P120,000 70,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:What would be NUBD's finished goods inventory at December 31, 2021 under the absorption
costing method? *
Do not use money sign (P). Sample format: 111,111
NUBD Company began its operations on January 1, 2021, and produces a single
product that sells for P10 per unit. NUBD uses an actual cost system. In 2021,
100,000 units were produced and 80,000 units were sold. There was no work in
process inventory at December 31, 2021. Manufacturing costs and selling and
administrative expenses for 2021 were as follows:
Variable costs
P2.00 per unit produced
P1.25 per unit produced
P0.75 per unit produced
P1.00 per unit sold
Fixed costs
Raw material
Direct labor
Factory overhead
Selling and administrative
P120,000
70,000
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