Xenoc, Inc., produces stereo speakers. The selling price per pair of speakers is $1,820. There is no beginning inventory.

Costs involved in production are:
Direct material		$147
Direct labor		210
Variable manufacturing overhead		115
Total variable manufacturing costs per unit		$472
Fixed manufacturing overhead per year		$675,000

In addition, the company has fixed selling and administrative costs:
Fixed selling costs per year		$212,600
Fixed administrative costs per year		$116,900

During the year, Xenoc produces 1,500 pairs of speakers and sells 1,270 pairs.

1.What is the value of ending inventory using full costing?

2.What is the value of ending inventory using variable costing?

3.What is cost of goods sold using full costing?

4.What is variable cost of goods sold?

5.What is net income using full costing?

6.What is net income using variable costing?

7.How much fixed manufacturing overhead is in ending inventory under full costing? Compare this amount to the difference in the net incomes calculated in 5 and 6

p.s. Please show me how you do the calculation, I want to know how to do it. Thank you very much