Cahalane Corporation has provided the following data for its two most recent years of operation:
Selling price per unit $ 91
Manufacturing costs:
Variable manufacturing cost per unit produced:
Direct materials $ 12
Direct labor $ 5
Variable manufacturing overhead $ 5
Fixed manufacturing overhead per year $ 432,000
Selling and administrative expenses:
Variable selling and administrative expense per unit sold $ 4
Fixed selling and administrative expense per year $ 78,000
Year 1 Year 2
Units in beginning inventory 0 1,000
Units produced during the year 9,000 12,000
Units sold during the year 8,000 10,000
Units in ending inventory 1,000 3,000
Which of the following statements is true for Year 2
The amount of fixed manufacturing overhead deferred in inventories is $60,000
The amount of fixed manufacturing overhead released from inventories is $60,000
The amount of fixed manufacturing overhead deferred in inventories is $592,000
The amount of fixed manufacturing overhead released from inventories is $592,000
Answers: 3
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Cahalane Corporation has provided the following data for its two most recent years of operation:
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