ABC Company's cost and sales information for its first year of operations is as follows. $ Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit 30 per unit 50 per unit 20 per unit $8,800,000 (per year) $ 700,000 $4,500,000 110,000 units 80,000 units 360 per unit 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using variable costing. ABC COMPANY Variable Costing Income Statement Net income (loss) Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using absorption costing. ABC COMPANY Absorption Costing Income Statement Net income (loss) De