B. ZIPP CARDS (30 points) B1. Zipp Cards buys baseball cards in bulk from the companies that produce them. Zipp buys sheets of 48 cards, then cuts the sheets into individual cards, and sorts and packages them, usually by team. Zipp then sells the packages to large discount stores. The accompanying table provides information regarding operations for 2005 and 2006. Zipp CardsSummary of operations 2005 Unit sales (of 48 cards)* 50,000 Price per unit $5.00 Production in units 50,000 Variable cost $1.00 Fixed manufacturin overhead $160 000 *One unit equals 48 cards Volume is measured in terms of 48-card sheets processed. Actual production in 2005 was 50,000 units. There were no beginning inventories on January 1, 2005. In 2006, actual production rose to \"5,000 units. Zipp uses an actual, absorption costing system, an actual xed overhead rate is computed once each year'- -actual xed overhead is allocated in each year based on actual units produced. At the begirming of 2007, the president of Zipp was pleasantly surprised when the accountant showed her the income statement (using absorption costing) for the year 2006. The president remarked, \"I'm surprised we made more money in 2006 than 2005. We had to cut prices and we didn't sell as many units, yet we still made more money. Well, you are the accountant, and these numbers do not lie.\" Reguired: B1. What was absorption income is 2005? In 2006? Absorption Income in 2005 Absorption Income in 2006 ] Work