Assignment:
Question 1. Crossbow Corp. produces a single product. Data concerning June's operations follow:
|
Units in beginning inventory
|
0
|
|
Units produced
|
6,000
|
|
Units sold
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5,000
|
|
|
|
Variable costs per unit:
|
|
|
Manufacturing
|
$7
|
|
Selling and administrative
|
$3
|
|
|
|
Fixed costs in total:
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|
|
Manufacturing
|
$12,000
|
|
Selling and administrative
|
$3,000
|
Under variable costing, ending inventory on the balance sheet would be valued at:
- $10,000
- $7,000
- $9,000
- $12,000