During the month of May, Vinarao Corp. produced and sold 12,000 units of a product. Manufacturing and selling costs incurred during May were: Selling Price Direct Materials and Direct Labor Variable Factory overhead Fixed Factory Overhead Variable Selling Costs Required: 52 480,000 108,000 24,000 12,000 1. What amount would be Vinarao Corp. operating income using the variable costing method? 2. What amount would be Vinarao Corp. operating income using the absorption costing method? 3. The cost of ending inventory under the two costing methods were?