Elison Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory $ 111 0 7,500 7,200 300 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $ 24 $ 34 $ 1 $ 5 $ 217,500 $ 115,200 What is the net operating income for the month under variable costing? The Southern Corporation manufactures a single product and has the following cost structure: Variable costs per unit: Production (DM + DL + VMOH) Selling and administrative Fixed costs per year: Production (FMOH) Selling and administrative $ 38 $ 14 $ 140,000 $ 84,000 Last year, 7,000 units were produced and 6,800 units were sold. There was no beginning inventory The carrying value on the balance sheet of the ending inventory of finished goods under variable costing would be: $6,800 less than under absorption costing. $4,000 less than under absorption costing