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absorption costing
Consider the following information pertaining to a year's operation:
Units sold: 1,400 Units produced: 1,600 Direct Labor: $4,200 Direct materials used: 3,500 Fixed manufacturing overhead: 2,200 Variable manufacturing overhead: 300 Selling and administrative expenses: 700 Beginning inventories: 0 Contribution margin: 5,600 Direct-material inventory, end: 800 1) What is the ending finished-goods cost under absorption costing? 2) What is the ending finished-goods cost under variable costing? |
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