Old Corporation has the following standard costs associated with the manufacture and sale of one of its products for $2024$ :

$\backslash$table$[[$Direct material,$$5\mathrm{.}00$ per unit$],[$Direct labor,$7\mathrm{.}00$ per unit$],[$Variable manufacturing overhead,$9\mathrm{.}00$ per unit$],[$Fixed manufacturing overhead,$3\mathrm{.}00$ per unit $($based on an estimate of$],[,$$$300,000$ and denominator units of$],[,100,000).],[,],[$Variable SG&A expenses,$$0\mathrm{.}20$ per unit sold$],[$Fixed SG&A expenses,$$200,000$ per year$]]$

During its first year of operations Old manufactured $100,000$ units and sold $98,000.$ The selling price per unit was $$25.$

$2.$ Under absorption costing, the cost of the ending inventory is equal to

a$.$ $$46,000$

b$.$ $$47,000$

c$.$ $$48,000$

d$.$ $$49,000$

$3.$ Under direct costing, the cost of the ending inventory is equal to

a$.$ $$40,000$

b$.$ $$41,000$

c$.$ $$42,000$

d$.$ $$43,000$

$4.$ Based on direct costing, net income as of $12/31/24$ was

a$.$ $$(125,600)$

b$.$ $$(127,600)$

c$.$ $$(123,600)$

d$.$ $$(121,600)$

$5.$ Based on absorption costing, net income as of $12/31/2024$ was

a$.$ $$(125,600)$

b$.$ $$(127,600)$

c$.$ $$(123,600)$

d$.$ $$(121,600)$