The unit cost of ending inventory on the balance sheet, Ask an Expert

Accounting

Dimmick Corporation produces and sells a single product at $40 per unit. During 2007, the company produced 200,000 units, 160,000 of which were sold during the year. All ending inventory was in finished goods inventory; there was no inventory on hand at the beginning of the year. The following data relate to the company's production process:

Required: find out the following.

(a) The unit cost of ending inventory on the balance sheet prepared for stockholders.

(b) The unit cost of ending inventory on a variable cost balance sheet.

(d) The operating income using variable costing.

(e) The ending inventory using absorption costing.

(f) The ending inventory using variable costing.

(g) A reconciliation of the difference in operating income between absorption costing and variable costing using the shortcut method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M962192

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