Krepps Corporation produces a single product. Last year, Krepps manufactured 34,080 units and sold 28,200 units. Production costs for the year were as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead $259,008 $153,360 $269,232 $443,040 Sales totaled $1,494,600 for the year, variable selling and administrative expenses totaled $163,560, and fixed selling and administrative expenses totaled $224,928. There was no beginning inventory. Assume that direct labor is a variable cost. The contribution margin per unit was: Multiple Choice $27.20 per unit $33.00 per unit Krepps Corporation produces a single product. Last year, Krepps manufactured 30,140 units and sold 24,600 units. Production costs for the year were as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead $253,176 $147,686 $223,036 $572,660 Sales totaled $1,242,300 for the year, variable selling and administrative expenses totaled $140,220, and fixed selling and administrative expenses totaled $217,008. There was no beginning inventory. Assume that direct labor is a variable cost. Under absorption costing, the ending inventory for the year would be valued at: Multiple Choice 0 $289,938 $289.938 0 $281438 $281,438 Krepps Corporation produces a single product. Last year, Krepps manufactured 29,010 units and sold 23,900 units. Production costs for the year were as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead $ 214,674 $121, 842 $243,684 $319, 110 Sales totaled $1,159,150 for the year, variable selling and administrative expenses totaled $126,670, and fixed selling and administrative expenses totaled $205,971. There was no beginning inventory. Assume that direct labor is a variable cost. Under variable costing, the company's net operating income for the year would be: Multiple Choice $30,149 lower than under absorption costing. $30,149 higher than under absorption costing