Variable and Absorption Costing Chandler Company sells its product for $116 per unit. Variable manufacturing costs per unit are 551 and fed manufacturing costs at the normal operating level of 12,000 units are $240,000. Variable selling expenses are $24 per unit sold. Fored administrative expenses total $104,000 Chandler had no beginning inventory in 2016 During 2016, the company produced 12.000 units and sold 9,000. Would net income for Chandler Company in 2016 be higher if calculated using variable costing or using absorption costing Calculate reported income using each method Do not use negative signs with any answers. Absorption Costing Income Statement Cost of Goods Sold Denning inventory Vanable costs Les Ending inventory Cost of Goods Sold Variable Costing Income Statement Sales $ Cost of Goods Sold: Beginning Inventory 0 Variable Costs Variable cost of goods sold 0 0 Fixed costs: Administrative Expense Total Fixed Cost Net Income