Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials $8.70 Direct labor $4.00 Variable manufacturing overhead $6.73 Variable selling and administrative expenses $4.52 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $266,800 $243,716 Siren Company sells the fishing lures for $29.00. During 2020, the company sold 82,000 lures and produced 92,000 lures. Your answer is incorrect. Try again. n Assuming the company uses variable costing, calculate Siren's manufacturing cost per unit for 2020. (Round answer to 2 decimal places, e.g. 10.50.) Manufacturing cost per unit 23.95 Your answer is incorrect. Try again. Prepare a variable costing income statement for 2020. (Enter negative amounts using either a negative sign ng preceding the number e.g. -45 or parentheses e.g. (45).) SIREN COMPANY Income Statement X Variable Costing Manufacturing cost per unit Your answer is incorrect. Try again. Prepare an absorption costing income statement for 2020. (Enter negative amounts using either a ne preceding the number e.g. -45 or parentheses e.g. (45).) SIREN COMPANY Income Statement Absorption Costing X Langdon Company produced 9,600 units during the past year, but only 8,300 of the units were sold. The following additional information is also available. Direct materials used $104,100 Direct labor incurred $28,500 Variable manufacturing overhead Fixed manufacturing overhead $21,000 $38,400 Fixed selling and administrative expenses $71,500 Variable selling and administrative expenses $9,000 There was no work in process inventory at the beginning and end of the year, nor did Langdon have any beginning a finished goods inventory. Your answer is incorrect. Try again. What would be Langdon Company's finished goods inventory cost on December 31 under variable costing? (Round intermediate calculations to 2 decimal places e.g. 10.25 and final answer to 0 decimal places, e.g. 2,510.) Finished goods inventory cost 7800 Your answer is incorrect. Try again. 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 e.g. 10.25 and final answer to 0 decimal places, e.g. 2,510.) method would show a higher net income by $i