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McFadden, Inc. has collected the following data. (There are no beginning inventories.)

Units produced   700   units
Sales price   $150   per unit
Direct materials   $30   per unit
Direct labor   $10   per unit
Variable manufacturing overhead   $10   per unit
Fixed manufacturing overhead   $17,300   per year
Variable selling and administrative costs   $6   per unit
Fixed selling and administrative costs   $17,200   per year

What is the ending balance in Finished Goods Inventory using variable costing if 600 units are sold?
A) $4,000
B) $5,000
C) $3,000
D) $2,000
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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