Steele Corporation Has the Following Information for January,February,and March Production Costs Per Unit (Based on 10,000 Units)are as Follows

question 6

Multiple Choice

Steele Corporation has the following information for January,February,and March: $\begin{array}{lrrr}&\underline{\text { January}}&\underline{\text { February }} &\underline{\text { March }}\\\text { Units produced } & 10,000 & 10,000 & 10,000 \\\text { Units sold } & 7,000 & 8.500 & 10,500\end{array}$
Production costs per unit (based on 10,000 units) are as follows:
$\begin{array}{lr} \text { Direct materials} &\$12\\ \text {Direct labour } &8\\ \text {Variable factory overhead } &6\\ \text { Fixed factory overhead } &4\\ \text { Variable selling and admin. expenses } &10\\ \text { Fixed selling and admin. expenses } &4\\\end{array}$
There were no beginning inventories for January,and all units were sold for $50.Costs are stable over the three months.
What is the January ending inventory for Steele Corporation using the variable costing method?

• A)$78,000
• B)$90,000
• C)$108,000
• D)$260,000

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