core: 0.74 of 1 pt 5 of 10 7 complete) FAM13-B3 (similar to) Consider the folowing information pertaining to a year's operation of Topaz Company: Click the icon to view Topaz Company's operations) Requirements 1. What is the ending finished-goods inventory cost under variable costing? 2. What is the ending finished-goods inventory cost under absorption costing? 3. Would operating income be higher or lower under variable costing? By how much? Why? Answer: $920 lower, but explain why.) Requirement 1 and 2. What is the ending finished goods inventory cost under variable costing? What is the ending finished goods inventory cost under absor final answers to the nearest whole dollar) Requirement1 Requirement 2 Variable costing Absorption costing Direct materials used $ 3,200 $ 3.200 Direct labor 4.100 4.100 Food manufacturing overhead 4,600 Variable manufacturing overhead 2.200 2200 Total production costs $ 9.500 5 14,100 $ 1,900 Ending finished goods inventory 2.820 Requirement 3. Would operating income be higher or lower under variable costing? By how much? WHY? Answer: $920 lower, but explain why) Operating income would be for variable costing because fixed manufacturing overhead is Enter any number or expression in the editfield, then click Check Answer All parts showing Clear A 3 A % # 3 2 & 7 6 8 W E R T Y S D F G H