7. Determine the absorption net income based on the given information Net income, variable costing 50,000.00 Fixed cost beginning inventory 27,000.00 Fixed cost in ending inventory 25,000.00 8. A contractor has the following information his construction project Constructions materials 150,000 Wages 75,000 Overhead 25,000 Profit 30,000 What is the mark up percentage on prime cost