Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 6,300 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials Direct labor Fixed factory overhead Variable factory overhead This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. X Open spreadsheet $36.60 Absorption costing $ Variable costing $ 13.20 6.70 5.90 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept.

Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 6,300 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. x Open spreadsheet Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing Variable costing \$ 3 At the end of the first year of operations, the number of units and the unit manufacturing costs were as follows: 12 REQUIRED: 13. Determine the cost of the finithed goods inventory roported on the balanoe sheot under (a) the absorption costing concept and (b) the variable cesting. concopt. Using formulas and cell references from the problem data, perform the required analysis. 14 Formulas entered in the green cells show in the orange colls. Transfer amounts to CNOWv2 for grading