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! Req QS 6-7(Algo) Reporting inventory using absorption costing LO P2 Compute...

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QS 6-7(Algo) Reporting inventory using absorption costing LO P2
Compute the cost of ending finished goods inventory reported on the balance sheet using absorption costing.
\table[[,Finished goods inventory under absorption costing],[,],[,],[Product cost per unit,$uired information
Use the following information for the Quick Study below. (Algo)
[The following information applies to the questions displayed below.]
Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,550 rackets and sold 5,180. Each racket was sold at a price of $90. Fixed overhead costs are $85,150 per year, and fixed selling and administrative costs are $66,400 per year. The company also reports the following per unit variable costs for the year.
Direct materials
Direct labor
$12
Variable overhead
Variable selling and administrative expenses
8
5
QS 6-7(Algo) Reporting inventory using absorption costing LO P2
Compute the cost of ending finished goods inventory reported on the balance sheet using absorption costing.
\table[]
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