d. Calculate the total value of the ending inventory using variable costing. Answer: ================================================== ACCT 346 Week 4 Midterm 1
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Fixed selling and administrative expenses( in total) $ 4,000 There were no units in beginning inventory.
Required: a. Prepare an income statement for last year using absorption( full) costing.
b. Calculate the total value of the ending inventory using absorption( full) costing.
c. Prepare an income statement for last year using variable costing( i. e., contribution margin income statement).
d. Calculate the total value of the ending inventory using variable costing. Answer: ================================================== ACCT 346 Week 4 Midterm 1
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1. Question:( TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for 2. Question: TCO 1) Which of the following statements regarding fixed costs is true? 3. Question:( TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? 4. Question: