Zaria Inc. provides the following cost information for producing 10,000 units of inventory during the current month:Cost InformationAccountsAmountsDirect materials costs$30,000Direct labor costs55,000Variable manufacturing overhead costs20,000Fixed manufacturing overhead costs25,000Variable Selling and Administrative expenses15,000Fixed Selling and Administrative expenses10,000There was no inventory at the beginning of the period. If 1,500 units of inventory remain unsold at the end of the period, compute the costs of goods sold for the month under variable costing.Group of answer choices$89,250$110,500$15,750$19,500

The objective of the question is to calculate the cost of goods sold (COGS) under variable costing…

Answered: Zaria Inc. provides the following cost…

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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Question

Zaria Inc. provides the following cost information for producing 10,000 units of inventory during the current month:

Cost Information

Accounts	Amounts
Direct materials costs	$30,000
Direct labor costs	55,000
Variable manufacturing overhead costs	20,000
Fixed manufacturing overhead costs	25,000
Variable Selling and Administrative expenses	15,000
Fixed Selling and Administrative expenses	10,000

There was no inventory at the beginning of the period. If 1,500 units of inventory remain unsold at the end of the period, compute the costs of goods sold for the month under variable costing.

Group of answer choices

$89,250

$110,500

$15,750

$19,500

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