1. On March 1 of the current year, The Clayton Kershaw Company commenced operations. It operated itsplant at 100% of capacity during March. The following data summarized the results for March: Production: Sales ($26 per unit) Inventory, March 30 Total Cost or Expense Manufacturing costs Units 80,000 68,000 12,000 Variable Fixed $936,000 184,000 $1,120,000 Total Selling and administrative expenses Variable Fixed $125,000 64,000 $189,000 Total (a) (b) Prepare an income statement in accordance with absorption costing. Prepare an income statement in accordance with variable costing