Information taken from Allied Pipe Company’s records for the most recent year is as follows:
Direct material used | $340,000 |
Direct labor | 160,000 |
Variable manufacturing overhead | 75,000 |
Fixed manufacturing overhead | 125.000 |
Variable selling and administrative costs | 70.000 |
Fixed selling and administrative costs | 37.000 |
Required:
1.Assuming Allied Pipe Company uses absorption costing, compute the inventoriable costs for the year.
2.Compute the year’s inventoriable costs using variable costing.
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