Singletary Inc. makes and sells footballs. In 2018, the company made 120,000 footballs and sold 72,000 of them, at an average selling price of $75 per unit. Mike Singletary, the founder and CEO of the company provides you with the following additional information pertaining to 2018: Direct materials Direct manufacturing labor Variable manufacturing costs Sales commissions Fixed manufacturing costs Administrative expenses, all fixed $24 per unit $9 per unit $3.50 per unit $4.00 per unit $1,020,000 per year $250,000 per year In 2020, the company made 136,000 footballs and sold 220,000 units, at an average selling price of $75 per unit. Assume all costs (Manufacturing and non-manufacturing costs) were the same as 2018 and that the company uses First-In-First-Out (FIFO) method. What is the operating income under variable costing? What is the value of the ending inventory under variable costing? Clearly show your working.