4 [20 MARKS] Part 1 Asgard is a division of Marvel that produces and sells bicycles. For the month of January 2022, Asgard has the following data: Selling price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling costs $1,000 per unit $200 per unit $150 per unit $80 per unit $250,000 per month $40 per unit Fixed selling costs Beginning inventory Production Sales Required: $75,000 per month 0 2,500 units 2,000 units 1. Prepare Asgard's variable costing income statement for the month of January 2022. [6 marks] 2. Provide a reconciliation of net operating income between variable costing and absorption costing for the month of January 2022. [4 marks]