Variable and Absorption Costing Grant Company sells its product for 550 per unit. Variable manufacturing costs per unit are $30, and fived manufacturing costs at the normal operating level of 15,000 units are $90,000 Variable selling expenses are $4 per unit sold. Fived administrative expenses total $155.000 Grant hid 7.000 units at a per unit cost of $35 in beginning Inventory in 2019. During 2019, the company produced 15,000 units and sold 20,000. Would net income for Grant Company in 2019 be highet i calculated using variable costing or using absorption costing? Calculate reported income using each method Do not use negative signs with any answers Absorption Casting Income Statement Sales Cost of Goods Solid Beginning inventory Variable costs Ford Costs Ending inventory Cost of Goods Sold Gross profit Selling expense 0 D O 0 . 0 Administrative expense Net income 0 Absorption Costing Income Statement Sales $ Cost of Goods Sold: Beginning Inventory 0 Variable Costs Fixed Costs Less: Ending Inventory Cost of Goods Sold Gross profit Selling expense Administrative expense Net Income O O O Olo 0 OO Variable Costing Income Statement Sales Cost of Goods Sold: 0 Beginning Inventory Variable costs 0 0 Less: Ending Inventory Variable cost of goods sold Variable selling expense Contribution margin Fixed costs Manufacturing cost Administrative Expense 0 Total Fixed cost 0 0 0 0 Net Income 0