Exercise 8-21 Absorption and Variable Costing (LO 8-1) Information taken from Tuscarora Paper Company's records for the most recent year is as follows: Direct material used Direct labor Variable manufacturing overhead $281,000 135,200 69,000 109,000 Variable selling and administrative costs 63,200 34,100 Fixed manufacturing overhead Fixed selling and administrative costs Required: 1. Assuming Tuscarora Paper Company uses variable costing, compute the Inventoriable costs for the year. 2. Compute the year's Inventoriable costs using absorption costing. 1. Variable costing 2. Absorption costing Inventoriable costs