QUESTION 14 Peterson Corporation produces a single product. The company had no beginning inventory and they produced 70,000 units during 2021 and sold 60,000 units. The operating data for 2021 follow: Sales $1,380,000 Manufacturing costs: Direct Materials 294,000 Direct Labor 182,000 Variable manufacturing overhead 273,000 Fixed manusfacturing overhead 150,500 Selling & Administrative expenses: Fixed 140,000 Variable 258,000 Required: A). Calculate the value of the ending finished goods inventory under variable costing. (3 Marks) B). Calculate the amount of net income under variable costing. (4 Marks) C). Calculate the amount of net income under absorption coating (5 Marks) D). Explain in detail why the net income differs under the two accounting methods. (3 Marks) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 10pt V A V V TX -TT The - + X O