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What is the value of ending inventory using full costing

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Reference no: EM133039421

Question - Espresso Manufacturing produces snow shovels. The selling price per snow shovel is $28.00. There is no beginning inventory.

Costs involved in production are:

Direct material $6.00

Direct labor 4.00

Variable manufacturing overhead 4.00

Total variable manufacturing costs per unit $14.00

Fixed manufacturing overhead per year $196,560

In addition, the company has fixed selling and administrative costs of $170,900 per year.

During the year, Espresso produces 50,400 snow shovels and sells 45,390 snow shovels.

Required -

1. What is the value of ending inventory using full costing?

2. What is the value of ending inventory using variable costing?

Reference no: EM133039421

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