Emerson Corporation just completed its first year of operations. Planned and actual production equaled 20,000 units, and sales totaled 18,000 units at $151 per unit. Cost data for the year are as follows: Direct material (per unit) Conversion cost: Direct labor Variable manufacturing overhead Fixed manufacturing overhead Selling and administrative costs: Variable (per unit) Fixed 30 900,000 760,000 900,000 32 357,300 Required: 1. Compute the company's total cost for the year assuming that variable manufacturing costs are driven by the number of units produced, and variable selling and administrative costs are driven by the number of units sold. 2. How much of this cost would be held in year-end inventory under (a) absorption costing and (b) variable costing? 3. How much of the company's total cost for the year would be included as an expense on the period's income statement under (a) absorption costing and (b) variable costing? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the company's total cost for the year assuming that variable manufacturing costs are driven by the number of units produced, and variable selling and administrative costs are driven by the number of units sold. Total cost Required 11 Required 2 > Emerson Corporation just completed its first year of operations. Planned and actual production equaled 20,000 units, and sales totaled 18,000 units at $151 per unit. Cost data for the year are as follows: Direct material (per unit) Conversion cost: Direct labor 30 900,000 Variable manufacturing overhead Fixed manufacturing overhead 760,000 900,000 Selling and administrative costs: Variable (per unit) Fixed 32 357,300 Required: 1. Compute the company's total cost for the year assuming that variable manufacturing costs are driven by the number of units produced, and variable selling and administrative costs are driven by the number of units sold. 2. How much of this cost would be held in year-end inventory under (a) absorption costing and (b) variable costing? 3. How much of the company's total cost for the year would be included as an expense on the period's income statement under (a) absorption costing and (b) variable costing? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 How much of this cost would be held in year-end inventory under (a) absorption costing and (b) variable costing? Absorption costing Variable costing Cost of Year-End Inventory Emerson Corporation just completed its first year of operations. Planned and actual production equaled 20,000 units, and sales totaled 18,000 units at $151 per unit. Cost data for the year are as follows: Direct material (per unit) Conversion cost: Direct labor 30 900,000 Variable manufacturing overhead Fixed manufacturing overhead 760,000 900,000 Selling and administrative costs: Variable (per unit) 32 Fixed 357,300 Required: 1. Compute the company's total cost for the year assuming that variable manufacturing costs are driven by the number of units produced, and variable selling and administrative costs are driven by the number of units sold. 2. How much of this cost would be held in year-end inventory under (a) absorption costing and (b) variable costing? 3. How much of the company's total cost for the year would be included as an expense on the period's income statement under (a) absorption costing and (b) variable costing? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 How much of the company's total cost for the year would be included as an expense on the period's income statement under (a) absorption costing and (b) variable costing? Absorption costing Variable costing Expense