Altoona Valve Company's planned production for the year just ended was 18,200 units. This production level was achieved, and 21,200 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 $529,620 260,260 394,940 191,100 309,400 80,990 3,800 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? Absorption costing Variable costing 2-b. By what amount? (Do not round your intermediate calculations.) Difference in reported income