Homework 5 of 8 (4 complete) HW Score: 45%, Question Help mix and sold 15,000 cases, of which 2.000 were produced in April The total April production was 10,000. The sales price was 520 wable costs were 8 perse (56 manufacturing and $2 000 manufacturing and $9.000 selling and administrative) Limonade's Mary income statement using variable costing follow ant sorption costing Stingl Requirements 90000 1. Prepare the Many comestament using absorption costing 2. Isperating income using absorption couling higher or lower than var costing incomo? Explain why 3. Determine the balance in Finished Goods inventory as of May 31 118300 20 Prim Done 30000 9000 30000 12700 Homework 5 of 8 (4 complete) HW Score: 45%, Question Help mix and sold 15,000 cases, of which 2.000 were produced in April The total April production was 10,000. The sales price was 520 wable costs were 8 perse (56 manufacturing and $2 000 manufacturing and $9.000 selling and administrative) Limonade's Mary income statement using variable costing follow ant sorption costing Stingl Requirements 90000 1. Prepare the Many comestament using absorption costing 2. Isperating income using absorption couling higher or lower than var costing incomo? Explain why 3. Determine the balance in Finished Goods inventory as of May 31 118300 20 Prim Done 30000 9000 30000 12700