Steele Corporation Has the Following Information for January, February, and March

question 9

Multiple Choice

Steele Corporation has the following information for January, February, and March 2011: Production costs per unit (based on 10,000 units) are as follows:
There were no beginning inventories for January 2011, 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) $260,000
• B) $78,000
• C) $108,000
• D) $90,000

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Definitions:

Electronically

Through the use of electronic devices or systems, especially over digital networks.

Positive

An attribute of numbers greater than zero or situations that are beneficial or desirable.

Collection Float

The time period between when a payment is made by a customer and when the funds are actually available in the company’s bank account.