Explain why 2. Which costing method produces the highest April 30 balance in Finished Goods ent Inventory? Explain why Note: Exercise E21-16 must be completed before attempting Exercise E21-19 E21-19 Preparing variable costing income statements, production less than Learning Obje sales 1. CM $391.000 Refer to your answers to Exercise E21-16. In May 2018, ReVitalAde produced 22,000 cases of powdered drink mix and sola 23,000 cases, of which 1,000 were produced in April. The sales price was $29, variable costs were $12 per case ($9 manufacturing and $3 selling and administrative), and total fixed costs were $100,000 ($91,000 manufacturing and $9,000 selling and administrative). nce Requirements 1. Prepare the May income statement using variable costing 2. Determine the balance in Finished Goods Inventory as of May 31. cation, Inc. All rights reserved. Legal Notice 1 Privacy Policy 1 Permissions 1 Suppot I Feedback MacBook Pro F3 FS F7