lan, Inc. has collected the following data: (There are no beginning inventories) per unit per...
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lan, Inc. has collected the following data: (There are no beginning inventories) per unit per unit Units produced 600 units Sales price $120 Direct materials $30 Direct labor $10 Variable manufacturing overhead $7 Fixed manufacturing overhead $18,600 per year Variable selling and administrative costs $4 Fixed selling and administrative costs $10,600 per year per unit per unit per unit What is the ending balance in Finished Goods Inventory using absorption costing if 500 units are sold? O $4,000 O none of these choices O $8,420 $4,700 $7,800
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