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:

A Priori Structures

Fundamental concepts or frameworks that are understood or known before any experience or empirical evidence is involved.

Kant

A German philosopher who is a central figure in modern philosophy, known for his critique of pure reason and moral philosophy.

Schopenhauer

A German philosopher best known for his work "The World as Will and Representation," emphasizing the role of will in nature and human suffering.

Direct Representation

The accurate depiction or portrayal of reality without alteration, distortion, or interpretation.