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Variable and absorption costing Porta Light manufactures a high-quality LED flashlight for home/office use. Data pertaining to the company's operations for the year are as follows: Production for the year 63,000 units Sales for the year (sales price per unit, $8) 68,250 units Beginning inventory 12,250 units Costs to produce one unit (This year and prior year): Direct material $3.60 Direct labor 1.00 Variable overhead 0.60 Fixed overhead 0.40 Selling and administrative costs: Variable (per unit sold) $0.40 Fixed (per year) $210,000 The FOH rate is based on units of production based on an expected production capacity of 140,000 units per year. a. What is budgeted annual fixed manufacturing overhead? $ b. If budgeted fixed manufacturing overhead equals actual fixed overhead, what is underapplied or overapplied fixed overhead for the year (1) under absorption costing? $ (2) under variable costing? $ c. What is the product cost per unit under (1) under absorption costing? $ (2) under variable costing? $ d. How much total expense is charged against revenues for the year (1) under absorption costing? $ (2) under variable costing? $ e. Is income higher under absorption or variable costing? By what amount? * by $