NEXT 2 QUESTIONS Cornell Products has the following information available for 2020: UNITS BEGINNING INVENTORY ---O UNITS ENDING INVENTORY---5,400 UNITS COSTS Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative costs Fixed manufacturing overhead $1.00 per unit $2.00 per unit $1.50 per unit $_50 per unit $30,000/6.000 = $5.00 per unit $25,000 Fixed selling and administrative costs During 2020, Cornell produced 6,000 units out of which 5,400 units were sold for $20 each. 2 6. Refer to the Cornell Products information above. What is net income under direct costing? a. $35,000 b. $29,000 c. $26,000 d. $23,000 7. Refer to the Cornell Products information above. What is net income under absorption costing? a. $23,000 b. $29,000 c. $26,000 d. $35,000