At the end of the first year of operations 11 250
At the end of the first year of operations, 11,250 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows:
Direct materials ................ $ 78
Direct labor 38 Fixed factory overhead ........ 12
Variable factory overhead ............ 11
Determine the cost of the finished goods inventory reported on the balance sheet under
(a) The absorption costing concept
(b) The variable costing concept.

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