Problem #4 - 8marks In 2015, the ABC Company produced 90,000 units but only sold 70,000 units. Costs incurred were: Direct materials $ 20,000 Direct labour 30,000 Variable manufacturing overhead 15,000 Variable selling and administration 18,000 Fixed manufacturing overhead 25,000 Fixed selling and administration 15,000 Total $123,000 Instructions a) Calculate the value of inventory at the end of the year assuming ABC uses absorption costing. b) Calculate the value of inventory at the end of the year assuming ABC uses variable costing