Exercise 8-21 Absorption and Variable Costing (LO 8-1) Information taken from Tuscarora Paper Company's records for the most recent year is as follows: Direct material used Direct labor Variable manufacturing overhead Fixed manufacturing overhead $277,000 132,000 65,000 105,000 Variable selling and administrative costs Fixed selling and administrative costs 60,000 32,100 Required: 1. Assuming Tuscarora Paper Company uses variable costing, compute the inventoriable costs for the year. 2. Compute the year's inventoriable costs using absorption costing. 1. Variable costing 2. Absorption costing Inventoriable costs