Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Indianapolis, Inc. started the month with no beginning inventories. During the month the firm made 580 units, sold 470 of them, and collected the following

image text in transcribed
Indianapolis, Inc. started the month with no beginning inventories. During the month the firm made 580 units, sold 470 of them, and collected the following data: Sales price $200 per unit Direct materials $29 per unit Direct labor $8 per unit Variable MOH $13 per unit Fixed MOH $16,600 per month Variable selling and admin. costs $6 per unit Fixed selling and admin, costs $14,000 per unit What is the value of the firm's Finished oods Inventory ending balance at the end of the month using absorption costing? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar) O A $5,500 OB. $7.218 OC. $8,648 OD. $3,148

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

Students also viewed these Accounting questions