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X corporation produces a decorative pillow. In 2020, it produced 2,000 units a 1,750 at an average selling price of $75 per unit. The following additional information r corporation for 2020:   Beginning inventory   Variable manufacturing costs Variable marketing costs   Fixed manufacturing costs Administrative expenses, all fixed   0   $20.00 per unit   $ 3.00 per unit   $ 7.00 per unit   $15.00 per unit   D) $45           12) What is cost of goods sold using absorption costing?   A) $35,000   B) $40,000   C) $47,250   D) $110,000   13) What is contribution margin using variable costing?   A) $96,250   B) $91,000   C) $104,000

X corporation produces a decorative pillow. In 2020, it produced 2,000 units a 1,750 at an average selling price of $75 per unit. The following additional information r corporation for 2020:   Beginning inventory   Variable manufacturing costs Variable marketing costs   Fixed manufacturing costs Administrative expenses, all fixed   0   $20.00 per unit   $ 3.00 per unit   $ 7.00 per unit   $15.00 per unit   D) $45           12) What is cost of goods sold using absorption costing?   A) $35,000   B) $40,000   C) $47,250   D) $110,000   13) What is contribution margin using variable costing?   A) $96,250   B) $91,000   C) $104,000

FINANCIAL ACCOUNTING
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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X corporation produces a decorative pillow. In 2020, it produced 2,000 units a 1,750 at an average selling price of $75 per unit. The following additional information r corporation for 2020:

 

Beginning inventory

 

Variable manufacturing costs Variable marketing costs

 

Fixed manufacturing costs Administrative expenses, all fixed

 

0

 

$20.00 per unit

 

$ 3.00 per unit

 

$ 7.00 per unit

 

$15.00 per unit

 

D) $45

 

 

 

 

 

12) What is cost of goods sold using absorption costing?

 

A) $35,000

 

B) $40,000

 

C) $47,250

 

D) $110,000

 

13) What is contribution margin using variable costing?

 

A) $96,250

 

B) $91,000

 

C) $104,000

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