During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct...
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Accounting
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials $ 5 per unit Direct labor $ 3 per unit Variable overhead $ 4 per unit Fixed overhead $ 200,000 per year The company produced 25,000 units, and sold 17,500 units, leaving 7,500 units in inventory at year-end. What is the value of ending inventory under variable costing
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