What is the ending balance in Finished Goods Inventory using variable costing if 600 units are sold?
Iagan, Inc. has collected the following data. (There are no beginning inventories.)
A) $4000
B) $5000
C) $2000
D) $3000
B) $5000
Ending Finished Goods Inventory = Unsold units × Total unit product cost* = (700 units
produced - 600 units sold) × $50 = $5000
* Total unit product cost
Direct materials $30
Direct labor 10
Variable manufacturing overhead 10
Total unit product cost $50
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