1. The following is the financial information for ABC company for Fiscal Year 2018: Budgeted production Actual Production Sales Beginning Inventory Ending Inventory Variable cost per unit Selling Price per unit Fixed Manufacturing Costs Fixed Marketing Expenses 10,000 units 10,000 units 8,500 units units 1,500 units 300 1,000 2,500,000 1,080,000 $ $ $ $ Required: 1. Prepare the Income Statement under the following methods: a- Variable Costing a-Absorption Costing 2. Explain why the resulting operating income are different under each method