Exercise 8-21 Absorption and Varlable Costing (LO 8-1) Information taken from Tuscarora Paper Company's records for the most recent year is as follows: Direct labor Direct material used Variable manufacturing overhead $288,000 140,800 76,000 Fixed manufacturing overhead 116,000 Variable selling and administrative costs Fixed selling and administrative costs 68,800 37,600 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