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A firm uses backflush costing and values inventory using throughput accounting. All actual amounts are...

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Accounting

A firm uses backflush costing and values inventory using throughput accounting. All actual amounts are equal to budgeted amounts. The firm has NO variable overhead.

Total DM $75,000
Total DL $40,000
Total Fixed OH $70,000
Total completed and in process 2,500 units
Units in finished goods 150
Units in process 100

The firm has $500 of raw materials at the end of the period. Which of the following is the correct balance for COGS after inventory costs have been backflushed?

Group of answer choices

$103,500

$103,000

$67,000

$67,500

Answer & Explanation Solved by verified expert
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