Inventory Valuation under Absorption and Variable Costing The following information pertains to Synergy Inc. for last year: Beginning inventory in units 5,500 Units produced 20,000 23,700 Units sold Costs per unit: Direct materials $10.00 Direct labour $4.00 Variable overhead $1.75 $4.15 Fixed overhead $3.00 Variable selling expenses Fixed selling and administrative expenses * Fixed overhead totals $83,000 per year. $24,300 Required: 1. Calculate the cost of one unit of product under absorption costing. Round your answer to the nearest cent. Use rounded amount in subsequent requirements per unit 2. Calculate the cost of one unit of product under variable costing. Round your answer to the nearest cent. Use rounded amount in subsequent requirements. per unit 3. How many units are in ending Inventory? units 4. Calculate the cost of ending inventory under absorption costing. 5. Calculate the cost of ending inventory under variable costing. Previous Next >