For the current year, Bonnet Inc., had sales of 42,000 units and production of 50,000 units. Other information for the year included:

Required:
a. Compute the ending finished goods inventory under both absorption and variable costing.
b. Compute the cost of goods sold under both absorption and variable costing.

Question

For the current year, Bonnet Inc., had sales of 42,000 units and production of 50,000 units. Other information for the year included:
 
Required:
a. Compute the ending finished goods inventory under both absorption and variable costing.
b. Compute the cost of goods sold under both absorption and variable costing.

Quizplus · Accepted Answer

The Answer of For the current year, Bonnet Inc., had sales of 42,000 units and production of 50,000 units. Other information for the year included:
 
Required:
a. Compute the ending finished goods inventory under both absorption and variable costing.
b. Compute the cost of goods sold under both absorption and variable costing.

For the Current Year, Bonnet Inc