Emerson Corporation just completed its first year of operations. Planned and actual production equaled 22,000 units, and sales totaled 19,800 units at $164 per unit. Cost data for the year are as follows:

Direct material (per unit)	$	33
Conversion cost:
Direct labor		1,078,000
Variable manufacturing overhead		902,000
Fixed manufacturing overhead		1,078,000
Selling and administrative costs:
Variable (per unit)		35
Fixed		355,100

Required:

Compute the companys 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.

How much of this cost would be held in year-end inventory under (a) absorption costing and (b) variable costing?

How much of the companys total cost for the year would be included as an expense on the periods income statement under (a) absorption costing and (b) variable costing?