Varlatie Costing, Absorption Costing During its first year of operations, Snobegon, Inc. (located in Lake Snobegon, Minnesota), produced 40,000 plastic snow scoops. Snow scoops are oversized shovel-type. scoops that are used to push snow away. Unit sales were 38,300 scoops. Foxed overhead was applied at $0.75 per unit produced. Foxed overhead was underappliod by $3,000. This fixed overhead variance was closed to Cost of Goods Sold. There was no variable overhead variance. The results of the year's operations are as foliows (on an absorption-costing basis): 1. Calculate the cost of the firm's ending inventory under absorption costing. Round unit cost to five decimal places. Round youg final answer to the nearest dollar. Determine the number of units in ending inventory frit. Calculate unit cost after determining unadjusted cocs cbefore adjustment for underapplied fixed overhead). What is the cost of the ending inventory under vanable coating? Round unit cost to five decimal places, Round your final answer to the neareat dellar. 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. fomtloak roreck Wy Wak Use a contribution margin format income statement that groups costs according to behavior (Variable and foed) What is the difference between the two income ngures