In which situation will variable costing typically produce a higher value for net income than absorption costing? a) When units produced are greater than units sold. b) When units sold are greater than units produced. c) When units produced and units sold are equal. d) This will never happen. 10. In which situation will variable costing produce a higher value for ending inventory than absorption costing? a) When units produced are greater than units sold. b) When units sold are greater than units produced. c) When units produced and units sold are equal. d) This will never happen. 11. For a company using variable costing, where will fixed overhead incurred during the year be reported in the financial statements at the end of the period? a) Balance Sheet b) Income Statement c) Both the Balance Sheet and the Income Statement d) It depends 12. For a company using absorption costing, where will fixed overhead incurred during the year be reported in the financial statements at the end of the period? a) Balance Sheet b) Income Statement c) Both the Balance Sheet and the Income Statement d) It depends