Question
Krepps Corporation produces a single product. Last year, Krepps manufactured 27,540 units and sold 22,200 units. Production costs for the year were as follows. Direct
Krepps Corporation produces a single product. Last year, Krepps manufactured 27,540 units and sold 22,200 units. Production costs for the year were as follows.
Direct materials 214812
Direct labor 121176
Variable manufacturing overhead 239598
Fixed manufacturing overhead 302940
Sales totaled $1,098,900 for the year, variable selling and administrative expenses totaled $115,440, and fixed selling and administrative expenses totaled $176.256. There was no beginning inventory.
Under absorption costing, the ending inventory for the year would be valued at
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