14. Use the variable costing income statement and additional info below for Questions 14 & 15. Crystal Corporation Income Statement For the month ended May 31 1,000,000 450,000 25,000 Sales ($20 per unit) Variable expenses: COGS Selling Total variable expenses Contribution margin Fixed expenses: Manufacturing overhead Selling Total fixed expenses Net operating income 475.000 525,000 250.000 90,000 340.000 185.000 Crystal produced 100,000 units in May; beginning inventory consisted of 20,000 units. Production volume, variable product costs per unit, and both fixed costs categories have remained constant over the past several months. Crystal uses FIFO. What would Crystal's net income be for the month of May under absorption costing? 15. Use the above information: Compared to variable costing, how much greater would Crystal Corp's inventory value be on May 31st under absorption costing? 16. Craft Inc, produces a single product. In its first year of operations, the company had net income of $9,500 using absorption costing and S7,000 using variable costing. The fixed manufacturing overhead was $10,000. If 1.365 units were sold, how many units were produced