Ortiz Company produced 10,100 units during the past year but sold only 8,000 of the units. The following additional information is also available: Direct materials used Direct labour incurred Variable manufacturing overhead Fixed manufacturing overhead Fixed selling and administrative expenses Variable selling and administrative expenses $90,395 39,895 25,250 49,995 68,500 10,100 There was no work in process inventory at the beginning of the year. Ortiz did not have any beginning finished goods inventory either. Calculate Ortiz Company's finished goods inventory cost on December 31 under variable costing. (Round per unit calculations to 2 decimal places, e.g. 15.25 and final answer to o decimal places, e.g. 125.) Finished goods inventory cost Determine which costing method, absorption or variable, would show a higher net income for the year. would show a higher net income. By what amount? (Round per unit calculations to 2 decimal places, e.g. 15.25 and final answer to 0 decimal places, e.g. 125.) Net income will be higher by $