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Sheffield Corp. sells its product for $90 per unit. During 2016, it produced 60000 units and sold 50000 units (there was no beginning inventory). Costs

Sheffield Corp. sells its product for $90 per unit. During 2016, it produced 60000 units and sold 50000 units (there was no beginning inventory). Costs per unit are: direct materials $22, direct labor $15, and variable overhead $4. Fixed costs are: $720000 manufacturing overhead, and $90000 selling and administrative expenses. Ending inventory under variable costing is

  • $900000
  • $2050000
  • $410000
  • $530000

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