Harris corporation produces a single product last year, Ask an Expert

Accounting

Harris Corporation produces a single product. Last year, Harris manufactured 17,000 units and sold 13,000 units. Production costs for the year were as follows:

Sales were $780,000 for the year, variable selling and administrative expenses were $88,400, and fixed selling and administrative expenses were $170,000. There was no beginning inventory. Assume that direct labor is a variable cost.

under absorption costing, the ending inventory for the year would be valued at :

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91617461

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