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Author Question: Sandy Valley Company has the following selected data for the past year:Units sold during year 30,000 ... (Read 100 times)

PhilipSeeMore

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Sandy Valley Company has the following selected data for the past year:

Units sold during year          30,000
Units produced during year          40,000
Units in ending inventory          10,000
Variable manufacturing cost per unit $5.50
Fixed manufacturing overhead (in total) $20,000
Selling price per unit $10.00
Variable selling and administrative expense per unit $1.00
Fixed selling and administrative expenses (in total) $4,000

There were no units in beginning inventory.

Required:
1.  Prepare an income statement for last year using absorption costing.
2.  Calculate the value of the ending inventory using absorption costing.
3.  Prepare an income statement for last year using variable costing.
4.  Calculate the value of the ending inventory using variable costing.


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Marked as best answer by PhilipSeeMore on Jan 5, 2020

morrie123456

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PhilipSeeMore

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Reply 2 on: Jan 5, 2020
YES! Correct, THANKS for helping me on my review


parshano

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Reply 3 on: Yesterday
:D TYSM

 

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