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Try it 9-2 (similar to) GR Toys started 2020 with no inventories. During the year, their expected and actual production was 27,000 units, of which

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Try it 9-2 (similar to) GR Toys started 2020 with no inventories. During the year, their expected and actual production was 27,000 units, of which they sold 24,300 units at $50 each. Cost data for the year is as follows: Calculate GR Toys' operating income under (1) varlable costing, and (2) absorption costing. Explain why operating income differs under the two approaches

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