Information taken from Allied Pipe Company’s records for the most recent year is as follows:

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

Transcribed Image Text:

Direct material used Direct labor $340,000 160,000 Variable manufacturing overhead. 75,000 Fixed manufacturing overhead 125,000 Variable selling and administrative costs. 70,000 Fixed selling and administrative costs 37,000