Current Attempt in Progress Oak Ridge Manufacturing produces snow shovels. The selling price per snow shovel is $28.00. There is no beginning inventory. Costs involved in production are: Direct material Direct labor $6.00 4.00 Variable manufacturing overhead 4.00 Total variable manufacturing costs per unit $14.00 Fixed manufacturing overhead per year $196,560 In addition, the company has fixed selling and administrative costs of $170,900 per year. During the year, Oak Ridge produces 50,400 snow shovels and sells 45,390 snow shovels. Exercise 5.11 Your Answer Correct Answer (Used) Your answer is correct. What is the value of ending inventory using full costing? Value of ending inventory 89,679 eTextbook and Media Solution Exercise 5.12 Your Answer Correct Answer Your answer is correct. What is the value of ending inventory using variable costing? Value of ending inventory 70,140 eTextbook and Media Solution Exercise 5.13 Your Answer Correct Answer Your answer is correct. Attempts: 1 of 1 used Attempts: 1 of 1 used Calculate the difference in full costing net income and variable costing net income without preparing either income statement. Difference in net income eTextbook and Media Solution Exercise 5.14 Your Answer Correct Answer Your answer is correct. What is cost of goods sold using full costing? Cost of goods sold eTextbook and Media Solution 812,481 Exercise 5.15 What is cost of goods sold using variable costing? Variable cost of goods sold $ 19,539 Assistance Used Attempts: 1 of 1 used Attempts: 1 of 1 used