1 Information taken from Horner Corporation's May accounting records follows: Direct materials used $164,000 Direct labor 86,000 Variable manufacturing overhead 36,000 3 Fixed manufacturing overhead 130,000 points Variable selling and administrative costs 57,000 Fixed selling and administrative costs 66,000 Sales revenues 655,000 Required: A. Assuming the use of variable costing, compute the inventoriable costs for the month. B. Compute the month's inventoriable costs by using absorption costing. C. Assume that anticipated and actual production totaled 26,000 units, and that 21,000 units were sold during May. Determine the amount of fixed manufacturing overhead and fixed selling and administrative costs that would be expensed for the month under (1) variable costing and (2) absorption costing. D. Assume the same data as in requirement "C." Compute the contribution margin that would be reported on a variable-costing income statement. A B C Inventoriable costs by using variable costing Inventoriable costs by using absorption costing 1. Variable costing: Fixed manufacturing overhead Fixed selling and administrative costs 2. Absorption costing Fled manufacturing overhead Fixed selling and administrative costs D Contribution margin