Costih8 unit 9 At the end of the first year of operation, I00 remained in the finished goods invento manufacturing costs during the year were as follos nts Direct Materials Direct Labour Fixed Factory Overhead Cost Variable Factory Overhead Cost120 15.00 7.50 3.00 What would be the totatcost of the finished goods inventory reported in the balance sheet under (a) (b) the variable costing Concept the Absorption Costing Concept Faith international Fashions Ltd manufactures and sells women s clothes. The company began operations on August l and operated at 100% of capacity during the first month, but sold 18,000 units at N65 per units. The manufacturing costs and selling an administrative expenses were as follow: 10