1What is the difference in net income between the two methods (absolute value)?

2What is the difference in ending inventory between the two methods (absolute value)?

$ 0.55 1.25 PB17.6 6.5 This information was collected for the first year of manufacturing for Wifi Apps: Direct materials per unit $ 1.75 Direct labor per unit $ 3.50 Variable manufacturing overhead per unit Variable selling and administration expenses $ Units produced 50,000 Units sold 40,000 Sales price $ 13 Fixed manufacturing expenses $120,000 Fixed selling and administration expenses $ 35,000 Prepare an income statement under variable costing and prepare a reconciliation to the income under the absorption method