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(Solved by Expert Tutors) At the end of the first year of operations, 5,200 units remained in the


manufacturing cost during the year were as follows:Direct Materials: 35.00Direct Labor: 16.80Fixed factory overhead: 5.60Variable factory overhead: 4.90Determine the cost of the finished goods inventory reported on the balance sheet under (A) the absorption costing concept and (b) the variable costing concept.On Exercise 5-1, what is the answer to letter (a)? (Points: 25)$623,000$323,960$294,000$6,2302. On Exercise 5-1, what is the answer to letter (b)? (Points: 25)$567,000$320,058$294,840$5,600

 

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Apr 19, 2020

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