Iagan, Inc What Is the Ending Balance in Finished Goods Inventory Using

question 19

Multiple Choice

Iagan, Inc. has collected the following data. (There are no beginning inventories.) $$\begin{array} { | l | r | l | } \hline \text { Units produced } & 600 & \text { units } \\\hline \text { Sales price } & \$ 120 & \text { per unit } \\\hline \text { Direct materials } & \$ 30 & \text { per unit } \\\hline \text { Direct labor } & \$ 10 & \text { per unit } \\\hline \text { Variable manufacturing overhead } & \$ 7 & \text { per unit } \\\hline \text { Fixed manufacturing overhead } & \$ 17,900 \text { per year } \\\hline \text { Variable selling and administrative costs } & \$ 4 & \text { per unit } \\\hline \text { Fixed selling and administrative costs } & \$ 10,600 & \text { per year } \\\hline\end{array}$$ What is the ending balance in Finished Goods Inventory using variable costing if 500 units are sold?

• A) $4000
• B) $4700
• C) $1700
• D) $3000

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Definitions:

Renal Pelvis

The central collecting region in the kidney, where urine gathers before moving into the ureter towards the bladder.

Renal Artery

The blood vessel that supplies oxygenated blood to the kidneys.

Urinary Organ

An anatomical structure involved in the production, storage, and excretion of urine, part of the urinary system.

Kidney

An organ in vertebrates, responsible for filtering waste products from blood and excreting them, along with water, as urine.