In variable costing, the balance of ending Finished Goods Inventory includes fixed manufacturing overhead. True False 3 Question 8 When evaluating variances, exceptions can be expressed as a percentage of a budgeted amount or a dollar amount. True False Question 9 3 pts A favorable direct materials cost variance occurs when the actual direct materials cost incurred is less than the standard direct materials cost. True False Question 10 The sales volume variance is a result of the difference between the actual sales price and the budgeted sales price. True False Question 11 3 pts Marshall, Inc. has collected the following data for the current year: Beginning Finished Goods Inventory Units produced Units sold Sales price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs 50 units 510 units 560 units $160 per unit $25 per unit $14 per unit $17 per unit $12,000 per year $4 per unit $13,000 per year The beginning Finished Goods Inventory costs were $3400 under absorption costing and $3000 under variable costing. What is the operating income using absorption costing? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.) $43,400 $45,640 $30,400 $3400