Ortiz Company produced 10,800 units during the past year but sold only 8,300 of the units. The following additional information is also available: Direct materials used $93,960 Direct labour incurred 39,960 Variable manufacturing overhead 28,080 Fixed manufacturing overhead 44,280 Fixed selling and administrative expenses 69,800 Variable selling and administrative expenses 10.800 There was no work in process inventory at the beginning of the year. Ortiz did not have any beginning finished goods inventory either. Calculate Orte Company's finished goods inventory cost on December 31 under variable costing. (Round per unit calculations to 2 decimal aces, n.9. 15.25 and final answer to 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 decimal places, e.g. 125.) Net Income will be higher by