Bahrain Company reported the following costs and expenses for the most recent month: Direct materials $80,000 Direct labor $42,000 Manufacturing overhead (3/5 is fixed).. Selling expenses (1/2 is variable).. Administrative expenses (all fixed). If the sales were $200,000 1-Compute the followings: A- The total variable costs. B-Cost of Goods Sold. $50,000 $22,000 $35,000 2 - Prepare: A-Income statements according to traditional approach. B-Income statements according to contribution margin approach.