5-8. Speedway Company is a medium-sized manufacturer of sports car auto parts. The units sell for $50 each. In 2020, the company produced 50,000 units and sold 45,000 units. There was no beginning inventory. 2020's fixed manufacturing overhead was $250,000. Included in the $175,000 selling expenses is $30,000 variable selling. Below is the full costing income statement for 2020. Reconcile the difference between net income. Speedway Company Income Statement for Year Ending 12/31/20 Sales $50 $2,250,000 COGS ($1,350,000) GM $900,000 Selling exp ($175,000) Admin exp ($50,000) Net income ($225,000) $675,000 Enter your answers as amounts only with neither commas nor decimals. Full Costing Variable Costing Difference $ $ Net Income $675000 1825000 1150000 $ $ $ Ending inventory in 25000 20000 5000 dollars