Missan,Inc There Are No Beginning Inventories

question 111

Multiple Choice

Missan,Inc.reports the following information: $$\begin{array} { | l | r |r| } \hline \text { Units produced } & 640 &\text { units } \\\hline \text { Units sold } & 440 &\text { units } \\\hline \text { Sales price } & \$ 200& \text { per unit } \\\hline \text { Direct materials } & \$ 29& \text { per unit } \\\hline \text { Direct labor } & \$ 12 &\text { per unit } \\\hline \text { Variable manufacturing overhead } & \$ 18& \text { per unit } \\\hline \text { Fixed manufacturing overhead } & \$ 18,500& \text { per year } \\\hline \text { Variable selling and administrative costs } & \$ 4 &\text { per unit } \\\hline \text { Fixed selling and administrative costs } & \$ 13,500 &\text { per year } \\\hline\end{array}$$ There are no beginning inventories.What is the ending balance in Finished Goods Inventory using absorption costing? (Round any intermediate calculations to the nearest cent,and your final answer to the nearest dollar. )

• A)$13,981
• B)$5,781
• C)$11,800
• D)$17,582

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Definitions:

Shakers

A religious sect founded in the 18th century, known for their communal living, celibate lifestyle, and distinctive practices of worship including dancing, which led to their name.

Free Will

Free will is the concept that individuals have the ability to make choices that are not predetermined by biological or external factors, emphasizing human agency and moral responsibility.

Sin

An act considered a transgression against divine law or moral principles, often associated with religious beliefs.

Traditional Religious Beliefs

The long-established spiritual beliefs and practices followed by various cultural or ethnic groups.