Amoeba Manufacturing Company Provided the Following Information for the Year

question 29

Multiple Choice

Amoeba Manufacturing Company provided the following information for the year 2015: The inventory account balances as of January 1^st 2015 are given below. What is the ending balance in the finished goods inventory?

• A)$49,500
• B)$63,200
• C)$35,800
• D)$24,650

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Definitions:

Rate Variance

The difference between the actual rate paid for something and the standard or expected rate, often analyzed in budgeting and cost management.

Total Cost Variance

measures the difference between the actual cost of producing something and its standard cost, highlighting efficiency and budgeting issues.

Variable Factory Overhead

Costs in manufacturing that fluctuate with the level of production, such as utilities or materials.

Direct Materials

Raw materials that are directly incorporated into a finished product and can easily be traced to the product.