QUESTION 17 Use the following information to answer the next 2 questions: Lily has the following information concerning production this period. Units in beginning inventory 0 Units produced 4000 Units sold 3000 Units in ending inventory 1000 Variable costs per unit: Direct materials 10 Direct labor 5 Variable manufacturing overhead 3 Variable selling and administrative 2 Fixed costs: Fixed manufacturing overhead 80000 Fixed selling and administrative 20000 Using variable costing, what is the value of Lily's ending inventory (again, don't use a dollar sign). QUESTION 18 Use the following information to answer the next 1 questions: Lily has the following information concerning production this period. Units in beginning inventory 0 Units produced 4000 Units sold 3000 Units in ending inventory 1000 Variable costs per unit: Direct materials 10 Direct labor 5 Variable manufacturing overhead 3 Variable selling and administrative 2 Fixed costs: Fixed manufacturing overhead 80000 Fixed selling and administrative 20000 Assume Lily sells her products for $50 per unit. Using variable costing, please calculate Lily's contribution margin for the period (again, don't use a dollar sign)