Inventory Valuation under Absorption Costing

Amiens Company produced 20,000 units during its first year of operations and sold 18,900 at $17 per unit. The company chose practical activityat 20,000 unitsto compute its predetermined overhead rate. Manufacturing costs are as follows:

Direct materials $ 80,000

Direct labor 101,400

Variable overhead 15,600

Fixed overhead 54,600

1.Calculate the unit cost for each of these four costs. Round your answers to the nearest cent.

Direct Materials Cost $

Direct Labor Cost $

Variable Overhead Cost $

Fixed Overhead Cost $

2.Calculate the cost of one unit of product under absorption costing. Round your answer to the nearest cent.

$3.How many units are in ending inventory?

$4.Calculate the cost of ending inventory under absorption costing.