Webster inc began operations at the start of the present, Ask an Expert

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Webster, Inc. began operations at the start of the present year, having a production target of 60,000 units. Real production totalled 60,000 units, and the company sold 95% of its manufacturing output at $50 per unit. The following costs were earned:

Manufacturing:

Direct materials used $240,000

Direct labor 480,000

Variable manufacturing overhead 360,000

Fixed manufacturing overhead 600,000

Selling and administrative:

Variable 180,000

Fixed 630,000

Required:

A. Suppose the use of variable costing, compute the cost of Webster's finish finished-goods inventory.

B. Calculate the company's contribution margin. Would Webster disclose the contribution margin on a variable-costing income statement or an absorption-costing income statement?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9531138

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