Emerson Corporation just completed its first year of operations. Planned and actual production equaled 20,000 units, and sales totaled 18,000 units at $151 per unit. Cost data for the year are as follows: Required: 1. Compute the company's total cost for the year assuming that variable manufacturing costs are driven by the number of units produced, and variable selling and administrative costs are driven by the number of units sold. 2. How much of this cost would be held in year-end inventory under (a) absorption costing and (b) variable costing? 3. How much of the company's total cost for the year would be included as an expense on the period's income statement under (a) absorption costing and (b) variable costing? Complete this question by entering your answers in the tabs below. Compute the company's total cost for the year assuming that variable manufacturing costs are driven by the number of units produced, and variable selling and administrative costs are driven by the number of units sold..

1. Emerson Corporation just completed its first year of operations. Planned and actual production
equaled 20,000 units, and sales totaled 18,000 units at $151 per unit. Cost data for the year are as
follows: Required: 1. Compute the company's total cost for the year assuming that variable
manufacturing costs are driven by the number of units produced, and variable selling and
administrative costs are driven by the number of units sold. 2. How much of this cost would be
held in year-end inventory under (a) absorption costing and (b) variable costing? 3. How much of
the company's total cost for the year would be included as an expense on the period's income
statement under (a) absorption costing and (b) variable costing? Complete this question by
entering your answers in the tabs below. Compute the company's total cost for the year assuming
that variable manufacturing costs are driven by the number of units produced, and variable
selling and administrative costs are driven by the number of units sold.