What would be NUBD’s finished inventory cost at December 31, 2021 under the variable costing method?A. P 90,000B. P 104,000C. P 105,000D. P 135,000 Information from NUBD Company's records for the year ended December 31, 2021 isavailable as follows:[Units soldNet sales|Cost of goods manufactured:VariableFixed60,000 |Units manufacturedP 1,400,000 Operating expenses:Variable630,000 Fixed315,000 FG Inventory, beg.70,000P 98,000140,000none

Only variable cost of goods manufactured are associated to product cost under variable costing…

Answered: What would be NUBD’s finished inventory…

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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Sheridan Inc. has selected specific identification as its inventory costing method. At December 31, 2025, it has the following information for its finished goods: \table[[Replacement value,$5980
! Required information [The following information applies to the questions displayed below.] Shown below are net income amounts as they would be determined by Weihrich Steel Company by each of three different inventory costing methods ($ in thousands). Pre-2020 2020 FIFO $2,980 840 $3,820 Average Cost $2,720 510 $3,230 LIFO $2,460 585 $3,045 3. Assume that Weihrich used FIFO before 2021, and then in 2021 decided to switch to LIFO cost. Weihrich's records of inventory purchases and sales are not available for several previous years. Therefore, the pre-2020 LIFO information ($2,460) is not available. However, Weihrich does have the information needed to apply LIFO on a prospective basis beginning in 2020. Prepare the journal entry to record the change in accounting principle. (Ignore income tax effects.) (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.)
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Sheridan Combines, Inc. has $12000 of ending finished goods inventory as of December 31, 2022. If beginning finished goods inventory was $7000 and cost of goods sold was $42000, how much would Sheridan Combines, Inc. report for cost of goods manufactured? O $54000 O $7000 O $47000 O $37000 Save for Later Attempts: 0 of 1 used Submit Answer
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Swifty Corporation has $18000 of ending finished goods inventory as of December 31, 2019. If beginning finished goods inventory was $13000 and cost of goods sold was $50000, how much would Swifty report for cost of goods manufactured? $13000 $55000 $45000 $68000
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What is the beginning inventory? You left it blank. Direct Materials Conversion costs Beginning Inventory ? ? ? Add: Current costs 3798000 2160000 1638000 ($594000+$1044000) Total costs to account for (A) 3798000 2160000 1638000

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What would be NUBD’s finished inventory cost at December 31, 2021 under the variable costing method? A. P 90,000 B. P 104,000 C. P 105,000 D. P 135,000