Solve the following problems: 1. Natividad's Plant Stands manufactures wooden stands used by plant nurseries. In May 2020, the company manufactured 18,000 and sold 16,560 stands. The cost per unit for the 18,000 stands produced was as follows: Direct material Direct labor Variable overhead Fixed overhead P 180.00 120.00 60.00 80.00 There were no beginning inventories for May and no work in process at the end of May. Required: 1. What is the value of ending inventory using absorption costing? 2. What is the value of ending inventory using variable costing? 3. Which accounting method, variable or absorption, would have produced the higher net income for May? 1. Supermann Company, which has only one product, has provided the following data concerning its most recent month of operations: Selling price.... Units in beginning inventory.. Units produced.. Units sold.. Units in ending inventory.. Variable costs per unit: Direct materials.. Direct labor... Variable manufacturing overhead.. Variable selling and administrative.. Fixed costs in total: Fixed manufacturing overhead.. Fixed selling and administrative.. P138 500 4,100 4,300 300 P31 59 4 9 P94,300 47,300 Required: 1. What is the unit product cost for the month under variable costing? 2. What is the unit product cost for the month under absorption costing? 3. Prepare an income statement for the month using the contribution format and the variable costing method. 4. Prepare an income statement for the month using the absorption costing method. 5. Reconcile the variable costing and absorption costing net operating incomes for the month.