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Marshall Manufacturing produces snow shovels. The selling price per snow shovel is $27.00. There is no beginning inventory. Costs involved in production are: Direct material Direct labor Variable manufacturing overhead Total variable manufacturing costs per unit Fixed manufacturing overhead per year $5.00 5.00 2.00 $12.00 $252,000 In addition, the company has fixed selling and administrative costs of $170,400 per year. During the year, Marshall produces 52,500 snow shovels and sells 47,850 snow shovels. What is the value of ending inventory using full costing? Value of ending inventorys LINK TO TEXT VIDEO: SIMILAR EXERCISE What is the value of ending inventory using variable costing? Value of ending inventory s LINK TO TEXT VIDEO: SIMILAR EXERCISE Calculate the difference in full costing net income and variable costing net income without preparing either income statement. Difference in net income t What is cost of goods sold using full costing? Cost of goods sold s LINK TO TEXT VIDEO: SIMILAR EXERCISE What is cost of goods sold using variable costing? Variable cost of goods solde LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE What is net income using full costing? Net income LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE What is net income using variable costing? Net income LINK TO TEXT VIDEO: SIMILAR EXERCISE How much fixed manufacturing overhead is in ending inventory under full costing? Fixed manufacturing overhead in ending inventory Compare this amount to the difference in the net incomes calculated in Exercise 5-13. The amount of fixed manufacturing overhead in ending inventory under full costing is the difference in net income between full costing and variable costing

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