Part 2: Based on the data presented in the Unit VII Spreadsheet Template in Excel (Full Variable tab), complete the calculations listed below. Calculate the value of ending inventory under full or absorption costing. Calculate the value of ending inventory under variable costing Complete your calculations by filling in the highlighted cells, and embed a copy of the completed spreadsheet into this report. Discuss the results and comment on which method you think is more helpful to managers and why. A B C D E F G H 4 Direct material $ 0.60 5 Direct labor $ 1.00 6 Variable manufacturing overhead $ 0.40 7 Total variable manufacturing costs per unit $ 2.00 8 9 Fixed manufacturing overhead per year $139,000.00 10 11 In addition, the company has fixed selling and administrative costs: 12 Fixed selling costs per year $ 50,000.00 13 Fixed administrative costs per year $ 65,000.00 14 15 Selling price per cookie 16 17 Number of cookies produced 18/Number of cookies sold 19 20 Full (absorption) costing : 21 Full cost per unit 22 Ending Inventory Full (absorption) costing 23 24 Variable costing: 25 26 222 27 Variable cost per unit Ending Inventory Variable costing 3.75 2,780,000 2,600,000 CM Breakeven Full Variable Special Order IRR Cash Budget Variances