Inventory Valuation under Absorption CostingDuring the most recent year, Judson Company had the following data associated with the product it makes:Units in beginning inventory 300Units produced 15,000Units sold ($300 per unit) 12,700Variable costs per unit: Direct materials $20 Direct labor $60 Variable overhead $12Fixed costs: Fixed overhead per unit produced $30 Fixed selling and administrative $140,000Required:1. How many units are in ending inventory?2. Using absorption costing, calculate the per-unit product cost. 3. What is the value of ending inventory under absorption costing?
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