Obama Company sells its product for $26 per unit. During 2020, it produced 26500 units...
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Obama Company sells its product for $26 per unit. During 2020, it produced 26500 units and sold 20000 units (there was no beginning inventory). Costs per unit are: direct materials $6, direct labour $5, and variable overhead $4. Fixed costs are: $371000 manufacturing overhead, and $53000 selling and administrative expenses. Ending inventory under variable costing is
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| $97500. |
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| $397500. |
|
| $468500. |
|
| $521500. |
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