Information taken from Collegiate Sporting Goods Company's records for the most recent year is as follows:

Required:
1. Assuming the 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... $272,000 128,000 Variable manufacturing overhead 60,000 Fixed manufacturing overhead.. 100,000 Variable selling and administrative costs 56,000 Fixed selling and administrative costs 29,600