10. In 2019, Stanford Mfg. manufactured 75,000 units. Product and period costs are presented below: Product costs: Direct materials used Direct labor incurred Variable manufacturing OH Fixed manufacturing OH $1,125,000 1,500,000 37,500 56,250 Period costs: Variable selling & admin. exps Fixed selling & admin. exps; $150,000 750,000 Inventory on Dec. 31, 2019 was 5,000 units. Sales in 2019 was $5,000,000. Prepare Stanford's 2019 income statement under the variable costing method? a. $1,562,500 b. $1,558,750 c. $1,381,250 d. $1,568,000 11. In 2019, Stanford Mfg. manufactured 75,000 units. Product and period costs are presented below: Product costs: Direct materials used Direct labor incurred Variable manufacturing OH Fixed manufacturing OH $1,125,000 1,500,000 37,500 56,250 Period costs: Variable selling & admin. exps Fixed selling & admin. exps; $150,000 750,000 Inventory on Dec. 31, 2019 was 5,000 units. Sales in 2019 was $5,000,000. Prepare Stanford's 2019 income statement under the absorption costing method? a. $1,381,250 b. $1,562,500 c. $1,558,750 d. $1,568,000