1. A company has the following budget for the year: Selling price per unit $310 Variable production costs per unit $135 Fixed production costs per unit $90 Other variable costs per unit $30 Sales volume 60,000 units Production volume 62,000 units Opening inventory 1,000 units If budgeted profit statements were prepared by using absorption costing and then by using marginal costing: (2 Points) Marginal costing profit would be higher by $270,000 Absorption costing profits would be higher by $180,000 Absorption costing profits would be higher by $270,000 Marginal costing profits would be higher by $180,000