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Information taken from Allied Pipe Company's records for the most recent year is as follows:
direct material used $340,000
direct labor $160,000
variable manufacturing overhead $125,000
variable selling and administrative costs $70,000
fixed selling and administrative costs $37,000

Required:
1. Assuming Allied Pipe Co. uses absorption costing, compute the inventorial costs for the year.
2. Compute the year's inventorial costs using variable costing.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9414605

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