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Cullumber Company produced 8,600 units during the past year, but only 8,500 of the units were sold. The following additional information is also available. $83,300 $29.000 $21,000 Direct materials used Direct labor incurred Variable manufacturing overhead Fixed manufacturing over head Fixed selling and administrative expenses Variable selling and administrative expenses $43,000 $70,000 $12,000 There was no work in process inventory at the beginning and end of the year, nor did Cullumber have any beginning finished goods inventory (a) What would be Culturber Company's finished goods inventory cost on December 31 under variable costing? (Round intermediate calculations to 2 decimal placeses 10.25 and final answer to decimal places, eg 2,510.) Finished goods inventory cost Assistance Used e Textbook and Media Attempts: 0 of 3 used Submit Answer State (b) Which costing method, absorption or variable costing would show a higher net income for the year? By what amount? (Round intermediate calculations to 2 decimal places eg. 10.25 and final answer to decimal places, eg. 2,510.) method would show a higher net income by $ e Textbook and Media Assistance Used Attempts: 0 of 3 used Submit Anwar Savefore Using multiple attempts will impact your score. 10% score reduction after attempt 2