Horace Company manufactures a professional-grade vacuum cleaner and began operations in 2017. For 2017, Horace budgeted to produce and sell 25,000 units. The company had no price, spending, or efficiency variances and writes off production-volume variance to cost of goods sold. Actual data for 2017 are given as follows: Units produced 21,000 Units sold 18,500 Selling price $432 Variable costs: Manufacturing cost per unit produced: Direct materials $33 Direct labor $23 Manufacturing overhead $62 Marketing cost per unit sold $46 Fix costs: Manufacturing costs $1,550,000 Administrative costs 906,300 Marketing costs 1.479,000 Answer the following short answer questions: (1) What is the ending inventory balance under variable costing? (4 Points) (2) What is the cost of goods sold under variable costing? (4 Points) (3) What is the ending inventory balance under absorption costing? (Use budgeted production to determine fixed manufacturing overhead rate) (5 points) (4) What is the Probuction Volume Variance under absorption costing? (4 Points) (5) What is the cost of goods sold under absorption costing? (5 points)