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The Maxi Company uses an actual costing system. Denominator volume for the years 2019 and 2020 was 400,000 units. The fixed overhead spending was essentially unchanged from 2019. The following are actual data for the year 2020 Sales 470.000 units Opening inventory 100,000 units Ending inventory 40,000 units Selling price $60.00 Variable costs - Manufacturing $15.00 Selling and administrative $6.00 Fixed costs Manufacturing $8,000,000 Selling and administrative Answer the following questions based on this above data for the year ended 2020 12 $3,000,000 15 Enter your answer without commas or dollar signs rounded to the nearest dollar e. for $1,567,000.45 input 1567000. If no dollar value is appliable, then enter nia. 1 under variable costing the cost of goods sold is 2 under absorption costing the cost of goods sold is 3 What would the contribution margin be under absorption costing? 4 What would the contribution margin be under variable costing 5 What would the gross margin be under absorption costing 6 What would the contribution margin be under variable costing 7 What is the total period expenses under absorption costing 8 What is the total period expenses under direct costing 9 What is the operating income under absorption costing 10 Under direct costing, EBIT would be: 11 In this case what operating income would be the highest. Enter either absorption or variable 12 By what amount would direct and absorption operating differ