Question
Year 1 Year 2 Beginning FG inventory in units 100 ? Units Produced 3,000 1,000 Units Sold 2,000 2,000 Sales $800,000 $800,000 Material Costs $210,000
| Year 1 | Year 2 | |
| Beginning FG inventory in units | 100 | ? |
| Units Produced | 3,000 | 1,000 |
| Units Sold | 2,000 | 2,000 |
| Sales | $800,000 | $800,000 |
| Material Costs | $210,000 | $70,000 |
| Variable Labor | $66,000 | $66,000 |
| Variable Overhead | $24,000 | $8,000 |
| Fixed Overhead | $240,000 | $240,000 |
| Variable Selling & Administration | $60,000 | $60,000 |
| Fixed Selling and Administrative Expense | $120,000 | $120,000 |
*Beginning Inventory costs per unit for Year 0 are identical to those for Year 1.
The amount of beginning inventory for Year 2 is missing. Please determine how many units are in beginning inventory.
Determine the income using both absorption and variable/throughput costing.
Present the data to managers so that they understand any income fluctuations
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How To Perform A GDPR Compliance Audit
Authors: Kieran McLaughlin
1st Edition
1798935120, 978-1798935125
