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

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.

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Direct material used Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs $290,000 100,000 50,000 80,000 40,000 20,000