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14-18 with work pls FACTS for Problems 14-25: Marty's Entrees produces frozen meals, which it sells for $9 each. The company uses the FIFO inventory
14-18 with work pls
FACTS for Problems 14-25: Marty's Entrees produces frozen meals, which it sells for $9 each. The company uses the FIFO inventory costing method, and it computes a new monthly fixed manufacturing overhead rate based on the actual number of meals produced that month. All costs and production levels are exactly as planned. The following data are from Marty's Entrees' first two months in business: Sales. Production Variable manufacturing expense per meal......... Sales commission expense per meal.. Total fixed manufacturing overhead Total fixed marketing and administrative expenses January 1,400 meals 2,000 meals $ 5 $ $ 700 February 1,800 meals 1,400 meals $ 5 $ 1 $ 700 $ 500 $ 500 Question #14: Using Absorption/Full Costing, calculate the value of Ending Inventory for January A. $1,000 B. $1,100 C. $3,000 D. $3,210 Question #15: Using Absorption/Full Costing, calculate the value of Ending Inventory for February $1,000 $1,100 C. $3,000 D $3,210 A B Question #16: Using Absorption/Full Costing, calculate the value of COGS for January: A. $7,000 B. $7,490 C. $9,000 D. $9,810 Question #17: Using Absorption/Full Costing, calculate the value of COGS for February A. $7,000 B. $7,490 C. $9,000 D. $9,810 Question #18: Using Absorption/Full Costing, calculate Operating Income for January A. $3,000 . $3,210 C. $4,090 D. $4,200 Step by Step Solution
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