Assignment Selected data for Babar Ltd of past year of operations are presented below Product X Production in units] 2500 Sales [ in units] 2000 Selling price $20.00 Manufacturing cost Raw Materials (S) S 8000 Salaries of direct labour[S] S 8400 Variable overhead S 2400 Fixed overhead $ 4000 Non manufacturing cost Variable selling S 8000 Fixed selling cost $ 3500 Ending Inventory S 740 REQUIRED 1. Calculate product cost of product X using variable cost. 2. Calculate variable cost of goods for the year 3. Find the variable-costing net income 4. Calculate product cost of product X using absorption cost .. 5. Calculate cost of goods for the year using absorption method 6. Find the net income using absorption method