ACCT 202 PM SPRING 2019 (31208) Homework: CH6 Score: 0 of 4 pts E6-35A (similar to) 7 of 8 (5 complete) HW Score: 3 King Industries has one product. Information about the production and sales of that product for the past year follow EEB (Click the icon to view the data.) The company had no beginning inventory Read the requirements Requirement 1. Prepare two income statements for the year, one using absorption costing and one using variable costing. Begin by preparing the income statement for the year using absorption costing. kbg Industries Choose from any list or enter any number in the input fields and then click Check Answer 10 ramaining parts Clear All Check Previous 4 pts 7of 8 (5 complete) HW Score: 3 similar to) es has one product. e icon to view the da y had no beginningSelling price per unit$ quirements. Data Table $ 16.00 $4.00 352,000 330,000 $2.00 $46,000 Direct labor per unit ent 1. Prepare two in reparing the income sFixed portion of annual manufacturing overhead Total annual manufacturing overhead.... costing. King Ind Variable operating expenses per unit sold Fixed operating expenses per year in total .. om any list or enter a ts aining Print Done Check ious 25 no be ementd. What is the ending inventory balance using variable costing? Prepare ring the in c. What is the ending inventory balance using absorption costing? e. What is cost of goods sold using absorption costing? f. What is cost of goods sold using variable costing? g. What is operating income using absorption costing? h. What is operating income using variable costing? 2. What is the underlying reason for the difference in operating income between the two costing methods? any list or Print Done k Answe ning us 25