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The company uses standard costing within its variable costing system, and company policy is to write off any variances directly to COGS. Budgeted costs for
The company uses standard costing within its variable costing system, and company policy is to write off any variances directly to COGS. Budgeted costs for making and selling 550 units of its glass punch bowl are as follows. Direct material Direct labor Variable-MOH Variable operating Fixed-MOH Fixed operating $6 (a) $6 per unit $0 per unit $2 per unit $13,800 $9,100 per unit Actual costs came in as budgeted, although Bonita only produced 505 units this period. It sold 545 units at a selling price of $65 per unit, leaving 55 units in ending FG Inventory. The company's standard product costs per unit were the same last year as they are this year. Your answer is incorrect. How many units were in beginning FG Inventory this year?
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