When opening inventories were 8,500 litres and closing inventories 6,750 litres, a firm had a profit of $62,100 using marginal costing. Assuming that the fixed overhead absorption rate was $3 per litre, what would be the profit using absorption costing? A $41,850 B $56,850 C $67,350 D $82,350 Reconciling profit - Practice 2 The overhead absorption rate for product X is $10 per machine hour. Each unit of product X requires 5 machine hours. Inventory of product X on 1.1. X1 was 150 units and on 31.12.1 it was 100 units. What is the difference in profit between results reported using absorption costing and results reported using marginal costing? A The absorption costing profit would be $2,500 less. B The absorption costing profit would be $2,500 greater. C The absorption costing profit would be $5,000 less. D The absorption costing profit would be $5,000 greater