10 Nov Information taken from Ticonderoga Paper Company’s
Information taken from Ticonderoga Paper Company’s records for the most recent year is as follows: Direct material used..$203,000 Direct labor. 70,000 Variable manufacturing overhead.. 35,000 Fixed manufacturing overhead. 56,000 Variable selling and administrative costs 28,000 Fixed selling and administrative costs.. 14,000 Required: 1. Assuming Ticonderoga Paper Company uses variable costing, compute the inventoriable costs for the year. 2. Compute the year’s inventoriable costs using absorption costing. (CMA, adapted)
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