Question: Please provide the answer to this general accounting question with proper steps. Raylan Inc. produces a single product. Last year, 22,000 units were manufactured and

Please provide the answer to this general accounting question with proper steps.

Raylan Inc. produces a single product. Last year, 22,000 units were manufactured and 18,500 units were sold. The production costs for the year were: Direct materials: $180,000 Direct labor: $132,000 Variable manufacturing overhead: $110,000 Fixed manufacturing overhead: $308,000 Assume that direct labor is a variable cost and there was no beginning inventory. What is the value of ending inventory under absorption costing

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