Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information pertains to Gold Star Corporation for a period: Selling price per unit $41 Standard fixed manufacturing costs per unit $20 Variable selling

The following information pertains to Gold Star Corporation for a period:

Selling price per unit

$41

Standard fixed manufacturing costs per unit

$20

Variable selling and administrative costs per unit

$4

Fixed selling and administrative cost per unit

$16,000

Beginning inventories:

Units

?

Standard fixed manufacturing cost

$40,000

Standard variable manufacturing cost

$20,000

Units produced

10,000

Units sold

9,600

Required:

Assume the unit standard costs data for the beginning and ending inventories remained constant during the period. What was the total standard cost of the ending inventory under absorption costing?

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