During its second year of operations, TGS Corporation produced 3,410 units and sold 2,690 units at $55 each. The beginning inventory comprised 105 units, and costs were unchanged from the previous year. Costs incurred during the second year were as follows:

Direct materials per unit produced		$7
Direct labour per unit produced		10
Variable overhead per unit produced		12
Variable selling and administrative costs per unit sold		2
Total fixed production overhead		23,870
Total fixed selling and administrative costs		5,930

Reconcile TGSs income based on absorption costing and variable costing.

Value of ending inventory under variable costing
Fixed manufacturing costs deferred in ending inventory
Value of ending inventory under absorption costing

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Reconcile TGSs income based on variable costing and throughput costing.

Value of ending inventory under variable costing
Conversion costs deferred in ending inventory
Value of ending inventory under throughput costing