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Question 2 Information taken from Long Life Battery Company's records for the most recent year is as follows: Direct material used $750,000 Direct labor 420,000 Variable manufacturing overhead 480,000 Fixed manufacturing overhead 180,000 150,000 Variable selling and administrative costs Fixed selling and administrative costs 360,000 Required: 1. Assuming Long Life Battery Company uses variable costing, compute the inventoriable costs for the year. 2. Compute the year's inventoriable costs using absorption costing