Neef Corporation has provided the following data for its two most recent years of operation: 84 Selling price per unit Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year Selling and administrative expenses: Variable selling and administrative expense per unit sold Fixed selling and administrative expense per year $ 12 $ 5 $ 4 $432,000 $ 5 $ 61,000 Year 1 Units in beginning inventory 0 Units produced during the year 12,000 Units sold during the year 9,000 Units in ending inventory 3,000 Year 2 3,000 9,000 10,000 2,000 Which of the following statements is true for Year 2? Which of the following statements is true for Year 2? Multiple Choice The amount of fixed manufacturing overhead released from inventories is $12,000 The amount of fixed manufacturing overhead released from inventories is $654,000 The amount of fixed manufacturing overhead deferred in inventories is $654,000 The amount of fixed manufacturing overhead deferred in inventories is $12,000 Wolanski Corporation has provided the following data for its most recent year of operations: $ Selling price per unit 48 Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials 11 Direct labor $ 5 Variable manufacturing overhead $ 5 Fixed manufacturing overhead per year $110,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold $ Fixed selling and administrative expense per year $ 71,000 Units in beginning inventory Units produced during the year Units sold during the year Units in ending inventory 0 11,000 8,000 3,000 The unit product cost under absorption costing is closest to