A Company sells its product for $$20$ each and uses standard costing. The budgeted production level used to calculate the fixed manufacturing cost per unit is $4,000$ units. Actual production was $4,200$ units, and $5,000$ units were sold. Assume a beginning inventory of $1,500$ units and assume that the unit product cost for beginning inventory is the same as the current period unit product cost. Also, assume no price, efficiency, or spending variances. Any production volume variance is written off to cost of goods sold in the period it is incurred. Unit manufacturing costs are: Direct materials $$2\mathrm{.}00$ Direct manufacturing labor $$5\mathrm{.}00$ Variable MOH costs $$1\mathrm{.}50$ Total fixed MOH costs $($budgeted and actual$)$ $$10,000$ per year Marketing expenses $-$ variable $$1\mathrm{.}00$ per unit Marketing expenses $-$ fixed $$12,000$ per year Required: a$.$ Prepare an income statement using absorption costing.