Information taken from Tuscarora Paper Company\'s records for the most recent ye

Question

Information taken from Tuscarora Paper Company's records for the most recent year is as follows: Direct material used Direct labor Variable manufacturing overhead Pixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs $289,000 141,600 77,000 117,000 69,600 38,100 Required: 1. Assuming Tuscarora Paper Company uses variable costing, compute the inventoriable costs for the year 2. Compute the year's inventoriable costs using absorption costing. Inventoriable costs 1. Variable costing 2. Absorption costing

Explanation / Answer

Variable Costing Direct Material 289000 Direct Labor 141600 Variable Manufacturing overhead 77000 Inventoriable Cost 507600 Absorbtion Costing Direct Material 289000 Direct Labor 141600 Variable Manufacturing overhead 77000 Fixed Manufacturing Overhead 117000 Inventoriable Cost 624600

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