KM Toys started 2021 with no inventories. During the yeat, their expected and actual production was 34,000 units, of which they sold 20,400 units at $60 each. Cos data for the year is as foliows: (Cick the icon fo view the cont data) Calculate KM Toys' operating income under (a) variable costing, and (b) absorpton costing. Explain why operating income ditters under the two approachos: Cost of goods sold Fixed manufacturing costs Fixed marketing costs Revenues Variable cost of goods sold Variable marketing costs Absorption costing treats foxed manufacturing cost as a While variable costing troats it as a KuA Toys has costors costing is $ be under unts in ending inwantory, Under absorption costing, these units have a foxed manufacturing per unit. So the total foed manufacturing cost in ending inventory under absorption Since these costs are inventoried under costing, operating incomo is under aboorption costang by $ Data table