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7 years ago
Silver Rex, Inc. has provided the following data for the year:

Direct materials   $10   per unit
Direct labor   $15   per unit
Variable manufacturing overhead   $20   per unit
Fixed manufacturing overhead   $25,000   per year
Fixed selling and administrative costs   $15,000   per year
Sales price   $75   per unit
Beginning Finished Goods Inventory   500   units
Units produced   5,000   units
Units sold   4,500   units

Requirements:
a) Compute Silver Rex's unit product cost under absorption costing and variable costing.
b) Prepare income statements for Silver Rex using absorption costing and variable costing.
c) Calculate the balance in Finished Goods Inventory using absorption costing and variable costing.
Assume that the production level, costs, and sales prices were the same in the previous year.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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Deprecated Author
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#2
7 years ago
Makes perfect sense, thx
wrote...
#3
4 years ago
Thank you.
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#4
4 years ago
Thank you.
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