What is the ending balance in Finished Goods Inventory using absorption costing if 550 units are sold? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)
Mackenzie, Inc. has collected the following data. (There are no beginning inventories.)
A) $1450
B) $1900
C) $4742
D) $3350
D) $3350
Ending Finished Goods Inventory = Unsold units × Total unit product cost* = 600 units
produced - 550 units sold) × $67.00 = $3350
Direct materials $20
Direct labor 12
Variable manufacturing overhead 6
Fixed manufacturing overhead
($17,400 / 600 units) 29.00
Total unit product cost $67.00
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