Question - Max industries gathered the following information for the year ended June 30, 20x5
|
Units produced
|
17,000 units
|
|
Units sold
|
15,000 units
|
|
Direct labour
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$27,000
|
|
Direct materials used
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$63,000
|
|
Fixed selling & administrative expenses
|
$26,000
|
|
Variable selling & administrative expenses
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$30,000
|
|
Fixed manufacturing overhead
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$31,000
|
|
Variable manufacturing overhead
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$37,000
|
|
Beginning Inventory
|
none
|
|
Ending inventory
|
none
|
Calculate the value of ending inventory using:
Total costing
Direct costing