Waltman Co. juet ended its first year of operations. We are hired to help with the company's reporting. The Tableau Dashboard provides data for our analysin. Variable Manufacturing Costs Fixed Manufacturing Overhead $10 per unit $9 $7 $6 per unit 00000 34 $100,000 per year $4 per unit Selling & Administrative Costs Per Year $2 per unit Fixed 45,00 Per year $0 per unit Direct Direct labor Variable overhead materials 85,000 Variable per year Sales Price Callina Duinn C100 Der IInit selling Prie = S100 Per unit Units Produced vs Units Sold 1500 units 10,000 unitS Units Produced Units Sold 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 Units 1. Prepare an income statement for the year using variable costing. 2. Prepare an Income statement for the year using absorption costing. 3. Assuming the manager's bonus is based on net income, which costing method would the manager prefer in the current year? 4. Assuming the manager's bonus is tied to minimizing ending inventory, which costing method would the manager prefer in the currewyear? Req 1 Req 2 Req 3 and 4 Prepare an income statement for the year using variable costing. WALTMAN CO. Income Statement (Variable Costing) For Year Ended December 31 Net income (loss) Prepare an income statement for the year using absorption costing. WALTMAN CO. Income Statement (Absorption Costing) For Year Ended December 31 Net income (loss) Req 1 Req 2 Req 3 and 4 3. Assuming the manager's bonus is based on net income, which costing method would the manager prefer in the current year? 4. Assuming the manager's bonus is tied to minimizing ending inventory, which costing method would the manager prefer in the current year? Show less A 3. Which costing method would the manager prefer in the current year? 4. Which costing method would the manager prefer in the current year?