Chapter 2 HW i 5 ! Part 1 of 3 1.28 points Saved Help Save & Exit Submit Required information [The following information applies to the questions displayed below.] Mason Corporation began operations at the beginning of the current year. One of the company's products, a refrigeration element, sells for $185 per unit. Information related to the current year's activities follows. Check my work Skipped eBook Print References Variable costs per unit: Direct material Direct labor Manufacturing overhead Annual fixed costs: Manufacturing overhead Selling and administrative Production and sales activity: Production (units). Sales (units) 10 37 46 $600,000 860,000 24,000 20,000 Mason carries its finished-goods inventory at the average unit cost of production and is subject to a 30 percent income tax rate. There was no work in process at year-end. Required: 1. Determine the cost of the December 31 finished-goods inventory. Cost of finished-goods inventory