Question: ETTE Unit Costs, Inventory Valuation, Variable and Absorption Costing Snyder Company produced 94,500 units during its first year of operations and sold 91,650 at 522.27

 ETTE Unit Costs, Inventory Valuation, Variable and Absorption Costing Snyder Company

ETTE Unit Costs, Inventory Valuation, Variable and Absorption Costing Snyder Company produced 94,500 units during its first year of operations and sold 91,650 at 522.27 per unit. The company those practical activity -4.500 tisto compute its predetermined overhead rate. Manufacturing costs are as follows: Direct materials $584,955 Direct labor 72,765 Expected and actual variable overhead 410,130 Expected and actual fixed overhead 505,575 Required: If required, round unit cost answers to the nearest cent. 1. Calculate the unit cost and the cost of finished goods inventory under absorption costing Unit Cost Cost of finished goods inventory 2. Calculate the unit cost and the cost of finished goods inventory under variable costing Unit Cost Cost of finished goods inventory 3. What is the dollar amount that would be used to report the cost of finished goods inventory to external parties? $ Why

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