During the year, the company had the following data Beginning inven Ending Finished Direct materials Direct labour per Variable manufa Fixed manufactu Variable selling Fixed selling cos REQUIRED (USE EXCEL AND/OR SHOW CALCULATIONS LABEL ALL PARTS) 1) Calculate the value of ending finished goods inventory using absorption and variable costing methods + O units 8,500 units 15 per unit per unit 6 per unit 13 per unit 14 per unit 16 per unit 2) Calculate the difference in operating income between absorption and variable coating Which method provides the higher operating income? (Hint. You don't have to complete Income Statement) 3) Explain why there is a difference between absorption costing income and variable costing income