Singletary Inc. makes and sells footballs. In 2018, the company made 120,000 footballs and sold 72,000...

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Singletary Inc. makes and sells footballs. In 2018, the company made 120,000 footballs and sold 72,000 of them, at an average selling price of $75 per unit. Mike Singletary, the founder and CEO of the company provides you with the following additional information pertaining to 2018: Direct materials Direct manufacturing labor Variable manufacturing costs Sales commissions Fixed manufacturing costs Administrative expenses, all fixed $24 per unit $9 per unit $3.50 per unit $4.00 per unit $1,020,000 per year $250,000 per year In 2020, the company made 136,000 footballs and sold 220,000 units, at an average selling price of $75 per unit. Assume all costs (Manufacturing and non-manufacturing costs) were the same as in 2018 and that the company uses First-In-First-Out (FIFO) method. What is the operating income under absorption costing? What is the value of the ending inventory under absorption costing? Clearly show your working. Singletary Inc. makes and sells footballs. In 2018, the company made 120,000 footballs and sold 72,000 of them, at an average selling price of $75 per unit. Mike Singletary, the founder and CEO of the company provides you with the following additional information pertaining to 2018: Direct materials Direct manufacturing labor Variable manufacturing costs Sales commissions Fixed manufacturing costs Administrative expenses, all fixed $24 per unit $9 per unit $3.50 per unit $4.00 per unit $1,020,000 per year $250,000 per year In 2020, the company made 136,000 footballs and sold 220,000 units, at an average selling price of $75 per unit. Assume all costs (Manufacturing and non-manufacturing costs) were the same as in 2018 and that the company uses First-In-First-Out (FIFO) method. What is the operating income under absorption costing? What is the value of the ending inventory under absorption costing? Clearly show your working.