Variable Costing, Absorption Costing During its first year of operations, Snobegon, inc. (located in Lake Snobegon, Minnesota), produced 40,900 plastic snow scoops. Snow scoops are oversized shovel-type scoops that are used to push snow away, Unit sales were 38,800 scoops, Fixed overhead was applied at so. 70 per unit produced. Fixed overhead was underapplied by $3,000. This foved overhead variance was closed to Cost of Goods. Sold. There was no variable overhead variance. The results of the year's operations are as follows (on an absorption-costing basis): Kequired: 1. Calculate the cost of the firmis end ino inventory under absorption costing. Round unit cost to five decimal places. Round your final answer to the nearest dollar. What is the cost of the ending inventory under variable costing? Round unit cost to five decimal places. Round your final answer to the nearest dollar. What is the cost of the ending inventory under variable costing? Round unit cost to five decimal places. Round your final answer to the nearest dollar. 2. Prepare a variable-costing income statement. Round the unit cost to five decimal places, when required. Round your final answers to the nearest dollar. use the rounded values in subsequent computations. What is the drtterence between the two Inicome figores