Costs involved in production:
Direct material $ 5
Direct Labor $ 4
Variable Mfg Overhead $ 3
Total Variable Mfg costs per unit $12
Fixed Mfg. Overhead per year $180,000
Fixed Selling and Admin Costs per year $160,000
During the year ROA produces 40,000 skis and sells 37,000
1. What is value of ending inventory using full costing?
2. What is value of ending inventory using variable costing?
3. What is cost of goods sold using full costing?
4. What is variable cost of goods sold?