Information taken from Collegiate Sporting Goods Company's records for the most recent year is as follows:
Direct material used $272,000
Direct labor $128,000
Variable manufacturing overhead $60,000
Fixed manufacturing overhead $100,000
Variable selling and administrative costs $56,000
Fixed selling and administrative costs $29,600
1. Assuming the company uses absorption costing, compute the inventoriable costs for the year.
2. Compute the year's inventoriable costs using variable costing.© BrainMass Inc. brainmass.com March 4, 2021, 7:27 pm ad1c9bdddf
The solution computes the year's inventoriable costs using variable costing.