1. Variable Costing vs Absorption Costing (11pts): The Thirteen Doctors, Corp. has provided the following information for its first two years of operation: + Selling price Manufacturing Costs: Direct Materials Direct Labor Per Unit: $41.00 per unit sold Per Year: $17.00 per unit produced $4.50 per unit produced $2.00 per unit produced $337,500 Selling & Administrative expenses: Variable Selling and Administrative Fixed Selling and Administrative $1.50 per unit sold $220,000 Variable OH Fixed OH 2019 2020 Units Produced Units Sold 37,500 37,500 36,900 38,100 a. Calculate the value of the units in ending inventory as of 12/31/2019 using absorption costing. (1pt) b. Calculate the value of the units in ending inventory as of 12/31/2019 using variable costing. (1pt) c. Prepare the income statement for the year ended 12/31/2019 using absorption costing. (2pts) d. Prepare the income statement for the year ended 12/31/2019 using variable costing. (2pts) e. Prepare the income statement for the year ended 12/31/2020 using absorption costing. (2pts) f. Prepare the income statement for the year ended 12/31/2020 using variable costing. (2pts) g. Fill in the following table using your answers from above to reconcile/convert variable costing income to absorption costing income (See exhibit 6.12 from the custom text as an example): (1pt) Variable Costing income Plus: Fixed OH Cost deferred in ending inventory Minus: Fixed OH cost recognized from beginning inventory Absorption Costing income 2019 2020