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Krepps Corporation produces a single product. Last year, Krepps manufactured 28,000 units and sold 22,500...

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Accounting

Krepps Corporation produces a single product. Last year, Krepps manufactured 28,000 units and sold 22,500 units. Production costs for the year were as follows:

Direct materials $ 229,600
Direct labor $ 134,400
Variable manufacturing overhead $ 215,600
Fixed manufacturing overhead $ 336,000

Sales totaled $1,046,250 for the year, variable selling and administrative expenses totaled $117,000, and fixed selling and administrative expenses totaled $201,600. There was no beginning inventory. Assume that direct labor is a variable cost.

Under absorption costing, the ending inventory for the year would be valued at: (Round your intermediate calculations to 2 decimal places.)

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