Exercise 8-27 Absorption versus Variable Costing (LO 8-1) Information taken from Ticonderoga Paper Company's records for the most recent year is as follows: Direct material used $211,000 Direct labor 76,400 Variable manufacturing 39,000 overhead Fixed manufacturing overhead 64,000 Variable selling and 32,800 administrative costs Fixed selling and administrative 18,000 costs Required: 1. Assuming Ticonderoga Paper Company uses variable costing. compute the inventoriable costs for the year. Inventoriable cost 2. Compute the year's inventoriable costs using absorption costing. Inventoriable cost