Figure 7-2 Steele Ltd. Has the Following Information for January, February, and February

question 1

Multiple Choice

Figure 7-2
Steele Ltd. has the following information for January, February, and March 2011: Production costs per unit (based on 10,000 units) are as follows: There were no beginning inventories for January 2011, and all units were sold for £50. Costs are stable over the three months.
-The following information pertains to Mayberry Ltd.: What is the value of the ending inventory using the variable costing method?

• A) £240,000
• B) £360,000
• C) £350,000
• D) £420,000

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Definitions:

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Recall Name

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