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Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 5,500 units remained in the finished goods imventory. The unit manufacturing costs during the year were as follows: Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Change in Sales Mix and Contribution Margin Head Pops Inc, manufactures two models of solar-powered, noise-canceling headphones: Sun Sound and Ear Bling models. The company is operating at less than full capacity. Market research indicates that 31,500 additional Sun Sound and 34,700 odditional Ear Bling headphones could be sold. The operating income by unit of product is as follows: Prepare an analysis indicating the increase or decrease in total profitability if 31,500 additional Sun Sound and 34,700 additional Ear Bling headphiones are produced and sold, assuming that there is sufficient capacity for the additional production. Round your per unit answers to two decimal place. Head Pops Inc. Income Statements under Absorption Costing and Varlable Costing Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July: If required, round interim per-unit calculations to the nearest cent. b. Prepare an income statement according to the variable costing concept. c. What is the reason for the difference in the amount of operating income reported in (a) and (b)? Under the method, the fixed manufacturing cost included in the cost of goods sold is matched with the revenues. Under of the fixed manufacturing cost is deducted in the period in which if is incurred, regardless of the amount of inventory change. Thus, when inventory increases, the income statement will have a higher operating income