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At the end of the first year of operations, 23,200 units remained in the finished goods...

At the end of the first year of operations, 23,200 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows:

Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept.

a. Cost of the finished goods inventory under the absorption costing: $
b. Cost of the finished goods inventory under the variable costing: $
Direct materials $24
Direct labor 16
Fixed factory overhead 15
Variable factory overhead 10
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