Inventory Valuation under Variable Costing During the most recent year, Judson Company had the following data associated with the product it makes: Units in beginning inventory 300 Units produced 15,000 Units sold ($300 per unit) 12,700 Variable costs per unit: Direct materials $20 Direct labor $60 $12 Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $30 $140,000 Required: 1. How many units are in ending Inventory? units 2. Using variable costing, calculate the per-unit product cost. SI 3. What is the value of ending inventory under variable costing? 1. Assume that ABC company takes 20,000 hours to produce 40,000 units of a product. Required: Calculate Velocity in hours a. b. Calculate Cycle Time in hours C. Calculate Cycle Time in minutes