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Altoona Valve Company's planned production for the year just ended was 18,800 units. This production level was achieved, and 21,700 units were sold. Other data follow: Direct material used Direct labor incurred Fixed manufacturing overhead Variable manufacturing overhead Fixed selling and administrative expenses Variable selling and administrative expenses Finished-goods inventory, January 1 $575,280 282,000 409,840 206,800 310,200 104,340 3,900 units The cost per unit remained the same in the current year as in the previous year. There were no work-in- process inventories at the beginning or end of the year Required 1. What would be Altoona Valve Company's finished-goods inventory cost on December 31 under the variable-costing method? (Do not round your intermediate calculations.) Finished-goods inventory cost 2-a. Which costing method, absorption or variable costing, would show a higher operating income for the year? O Variable costing OAbsorption costing 2-b. By what amount? (Do not round your intermediate calculations.) Difference in reported income