Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

14. Operatoron Piano Company manufactures and sells pianos. The following information is available for its single model piano, of which 0 were in inventory at

14. Operatoron Piano Company manufactures and sells pianos. The following information is available for its single model piano, of which 0 were in inventory at the beginning of the period, 1,000 were manufactured completely. Of those manufactured during the period, 500 have been sold, and 500 remain in finished goods inventory. Selling price (per unit) - $6,000 Variable costs (per unit) - Materials - 2,000 -Labor - 1,000 -Selling - 500 Fixed Costs (total) Manufacturing - 90,000 Selling - 25,000 Given the information above, what is the ending inventory for the period (in units, and in dollar value)? 1000 units, $3,090,000 O 500 units; $1,557,500 O 500 units, $1,545,000 O Ounits; So

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

0130674842, 978-0130674845

Students also viewed these Accounting questions