#3 SPRING 2020_SUD, JU 7, DUIU AIND DUI Time Left:1:46:46 Ahmad Bowes: Attempt 1 Question 19 (3 points) Henke Co. uses the retail inventory method to estimate its inventory for interim statement purposes. Data relating to the computation of the inventory at July 31, 2014, are as follows: Cost Retail Inventory, 2/1/14 $ 200,000 $ 250,000 Purchases 1,000,000 1,575,000 Markups, net 175,000 Sales 1,600,000 Estimated normal shoplifting losses 20,000 Markdowns, net 110,000 Under the lower-of-cost-or-market method, Henke's estimated inventory at July 31, 2014 is $162,000 $174,000 $186,000 None of the above Question 1 (3 points) The following data are available from the accounting records of Florida Co. for the month ended May 31, 2012. 17,000 units were manufactured and sold during the accounting period at a price of $60 per unit. There was no beginning inventories and all units were completed (no work in process). Total Cost Number of Units Unit Cost Cost Manufacturing costs: Variable Fixed $442,000 | 170,000 $612,000 17,000 17,000 $26 10 Total $36 Selling and administrative expenses: Variable ($2 per unit sold) Fixed Total $34,000 | 32.000 $66.000 Prepare a variable costing income statement. Question: What is Variable costing Income from operations? $544,000 $342.000