BADM2010 Inc., which has only one product, has provided the following data concerning its most recent month of operations:

Selling price$50

Units in beginning inventory500

Units produced3,900

Units sold5,100

Variable costs per unit:

Direct materials$20

Direct labour10

Variable manufacturing overhead7

Variable selling and administrative10

Fixed costs:

Fixed manufacturing overhead$38,000

Fixed selling and administrative 21,000

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2) BADM2010 Inc., which has only one product, has provided the following data concerning its most recent month of operations: Selling price $50 500 Units in beginning inventory Units produced Units sold 3,900 5,100 Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative $20 10 7 10 Fixed costs: Fixed manufacturing overhead $38,000 Fixed selling and administrative 21,000 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. Required: a) Prepare an income statement for the month using the variable costing method. b) Prepare an income statement for the month using the absorption costing method