During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $7 per unit, Direct labor, $5 per unit, Variable overhead, $6 per unit, and Fixed overhead, $279,000. The company produced 31,000 units, and sold 20,500 units, leaving 10,500 units in inventory at year-end. What is the value of ending inventory under variable costing? Multiple Choice $94,500 $283,500 O O $468,000 O $279,000 $189,000 Jeter Corporation had net income of $218,000 based on variable costing. Beginning and ending inventories were 6,600 units and 11,200 units, respectively. Assume the fixed overhead per unit was $4 for both the beginning and ending inventory. What is net income under absorption costing? Multiple Choice O $218,000 O $289,200 $236,400 O O $262,800 O $254,800 Sea Company reports the following information regarding its production costs: 3 10 points Units produced Direct labor Direct materials Variable overhead Fixed overhead 54,000 units $ 47 per unit $ 40 per unit $ 29 per unit $135,000 in total X 03:55:52 Compute the product cost per unit under absorption costing. eBook Multiple Choice Ask O $87.00 $118.50 O $116.00 O $47.00 O O $40.00