Information taken from Tuscarora Paper Company’s records for the most recent year is as follows: Direct material used ............................................................................... $290,000Direct labor ............................................................................................. 100,000Variable manufacturing overhead .......................................................... 50,000Fixed manufacturing overhead .............................................................. 80,000Variable selling and administrative costs .............................................. 40,000Fixed selling and administrative costs ................................................... 20,000 Required:1. Assuming Tuscarora Paper Company uses variable costing, compute the inventoriable costs for the year.2. Compute the year’s inventoriable costs using absorption costing.

Assets that are expected to be converted to​ cash, sold, or used up during the next 12​ months, or within the​ business's normal operating cycle if the cycle is longer than a​ year, are called​ ________ assets.   A. long−term   B. intangible   C. plant   D. current

Which of the following would probably properly classified as a step cost with respect to the volume of production ?   Depreciation computed on an annual basis Total salaries paid to quality -control inspectors Real estate taxes President of the company's salary

1. The following information was reported for Gray Enterprises on December 31, 2020.Manufacturing Overhead Debit Credit 3,500 51,210 15,510   37,540   Double line5,340 Double line    A. What is the actual manufacturing overhead? B. What is the allocated manufacturing overhead? C. Is manufacturing overhead underallocated or overallocated?       D. Prepare the adjusting entry.Journal Date Description Debit Credit Dec. 31, 20       Dec. 31, 20       2. The following information was reported for Gray Enterprises on December 31, 2021.Manufacturing Overhead Debit Credit 2,110 56,360 15,500   31,830   Double line  Double line6,920   A. What is the actual manufacturing overhead? B. What is the allocated manufacturing overhead? C. Is manufacturing overhead underallocated or overallocated?       D. Prepare the adjusting entry.Journal Date Description Debit Credit Dec. 31, 20       Dec. 31, 20