Limonade incurs the following costs for its powdered sports beverage mix in March 2018: Direct materials cost per case $ 8.00 per case 3.00 per case 2.00 per case 0.50 per case Direct labor cost per case Variable manufacturing overhead cost per case Variable selling and administrative costs Total fixed manufacturing overhead costs Total fixed selling and administrative costs Sales price per case Cases of powdered mix produced Cases of powdered mix sold 50,000.00 per month 25,000.00 per month 25.00 per case 10,000 cases 8,000 cases There were no beginning inventories, so Limonade has 2,000 cases of powdered mix in cnding Finishcd Goods Inventory (10,000 cases produced-8,000 cases sold). Requirements 1. What is Limonade's product cost per case under absorption costing and variable 2. Prepare income statements for Limonade for March 2018 using absorption costing and 3. Calculate the balance in Finished Goods Inventory on March 31, 2018, using 4. Reconcile the differences between the operating incomes and Finished Goods costing? (See Learning Objective 1) variable costing, (See Learning Objective 2) absorption costing and variable costing, (Sce Lcarning Objective 2) Inventory balances between the rwo costing methods. (See Learning Objective 2)