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problem: Comparison of Variable Costing & Absorption Costing

Consider the following data pertaining to a year's operations of Youngstown Manufacturing:

Units sold 1,400

Units produced 1,600

Direct labor $4,200

Beginning inventories 0

Contribution margin 5,600

Direct-material inventory, end 800

Direct materials used 3,500

Fixed manufacturing overhead 2,200

Variable manufacturing overhead 300

Selling and administrative expenses (all fixed) 700

There are no work-in-process inventories.

[A] Determine the ending finished goods inventory cost under absorption costing?

[B] Determine the ending finished goods inventory cost under variable costing?

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M922435

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