Question 21 (1 point) Sprinkle Co. sells its product for $20 per unit. During 2013, it produced 60,000 units and sold 50,000 units (there was no beginning inventory). Costs per unit are: direct materials $5, direct labor $3, and variable overhead $1. Fixed costs are: $240,000 manufacturing overhead, and $30,000 selling and administrative expenses. The per unit manufacturing cost under variable costing is $8. $9. $13. $14. Question 22 (1 point) Sprinkle Co. sells its product for $20 per unit. During 2013, it produced 60,000 units and sold 50,000 units (there was no beginning inventory). Costs per unit are: direct materials $5, direct labor $3, and variable overhead $1. Fixed costs are: $240,000 manufacturing overhead, and $30,000 selling and administrative expenses. Cost of goods sold under absorption costing is $450,000 $540,000 $650,000 $520,000 Question 23 (1 point) Sprinkle Co. sells its product for $20 per unit. During 2013, it produced 60,000 units and sold 50,000 units (there was no beginning inventory). Costs per unit are: direct materials $5, direct labor $3, and variable overhead $1. Fixed costs are: $240,000 manufacturing overhead, and $30,000 selling and administrative expenses. Ending inventory under variable costing is $90,000 $130,000 $200,000. $450,000 Question 24 (1 point) Net income under absorption costing is gross profit less cost of goods sold. fixed manufacturing overhead and fixed selling and administrative expenses. fixed manufacturing overhead and variable manufacturing overhead. variable selling and administrative expenses and fixed selling and administrative expenses. Question 25 (1 point) Net income under variable costing is contribution margin less cost of goods sold. fixed manufacturing overhead and fixed selling and administrative expenses. fixed manufacturing overhead and variable manufacturing overhead. variable selling and administrative expenses and fixed selling and administrative expenses