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Question: Stone Industries gathered the following information for the years ended June 30, 20X5:-

Units Produced 17,000 Units

Units Sold 15,600 Units

Direct Labour $27,350

Direct Materials Used $63,200

Fixed Selling and Administrative Expenses $25,500

Variable Selling and Administrative Expenses $29,000

Fixed Manufacturing Overhead $31,450

Variable Manufacturing overhead $36,950

Begining Inventory None

Ending Inventory None

Calculate the value of ending inventory using:

a. Total Costing

b. Direct Costing

c. income statement using the marginal costing format

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92574495

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