Question
Carr Company produces a single product. During the past year, Carr manufactured 33,910 units and sold 28,100 units. Production costs for the year were as
Carr Company produces a single product. During the past year, Carr manufactured 33,910 units and sold 28,100 units. Production costs for the year were as follows: Direct materials $247,543 Direct labor $176,332 Variable manufacturing overhead $284,844 Fixed manufacturing overhead $474,740 Sales were $1,405,000 for the year, variable selling and administrative expenses were $148,930, and fixed selling and administrative expenses were $247,543. There was no beginning inventory. Assume that direct labor is a variable cost. Under absorption costing, the ending inventory for the year would be valued at: (Do not round intermediate calculations.)
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