4. Apex Leathers Company produces a lady's wallet and a man's wallet. Sclected data for the past year follow: Lady's Wallets 100,000 90,000 Tk. 5.50 Man's Wallets 200,000 210,000 Tk. 4.50 Production (units) Sales (units) Selling price Manufacturing costs: Direct materials Direct labor Variable overhead Fixed overhead Nonmanufacturing costs: Variable selling Fixed selling Tk. 75,000 250,000 20,000 70,000 Tk. 100,000 400,000 24,000 60,000 30,000 60,000 60,000 65,000 The actual fixed manufacturing overhead totaled Tk. 130,000 and it has been divided into two wallets as shown in the table. The company had 10,000 man's wallets in inventory at the beginning of the year. These wallets had the same unit cost as the man's wallets produced during the year. Required: [0.5+0.5+2+2+1=61 For the lady's and man's wallets: a) Compute the unit cost using the variable costing method. b) Compute the unit cost using absorption costing. c) Prepare an income statement using absorption costing. d) Prepare an income statement using variable costing. e) Reconcile the difference between the two income statements