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 $279,000 Direct labor 133,600 Variable manufacturing overhead 67,000 Fixed manufacturing overhead 107,000 Variable selling and administrative costs 61,600 Fixed selling and administrative costs 33,100 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. Inventoriable costs 1. Variable costing 2. Absorption costing