. . . V OXIClear manufactures a tIle and grout cleaner. The company was formed during the current year. As a result, there was no beginning inventory. Management is evaluating performance and inventory management issues, and desires to know both net income and ending inventory under generally accepted accounting principles {absorption costing) as well as variable costing methods. Relevant facts are as follows: Selling price per gallon Variable manufacturing cost per gallon Variable SG&A costs per gallon Fixed manufacturing costs Fixed 868:4 Total gallons produced Total gallons sold 4.40 0.80 0.90 1,450,000 235,000 650,000 620,000 Question 1 2 pts What is the value of the Ending Inventory under the variable costing? 24, 000 Question 2 2 pts What is the value of the Ending Inventory under the Absorption Costing? 90,900 Question 3 2 pts How much is the gross prot under the absorption costing? Question 4 2 pts How much is the net income under the absorption costing? Hint: if there is net loss then use a negative number. Question 5 1 pts How much is the contribution margin under the variable costing? Question 6 1 pts How much is the net income under the variable costing? Hint: if there is net loss then use a negative number. Question 7 1 pts How much is the variable manufacturing margin under the variable costing