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What is the cost of inventory in the current year

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Reference no: EM133042483

Question - A company incurred the following costs related to the production of inventory in the current year:

Cost of materials $100,000

Cost of direct labor 60,000

Allocation of variable overhead costs 30,000

Allocation of fixed overhead costs (based on normal production levels) 25,000

Storage costs (after production, prior to sale) 2,000

Selling costs 8,000

The cost of materials included abnormal waste of $10,000. What is the cost of inventory in the current year?

Reference no: EM133042483

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