BE 21-1 Variable costing. Marley Company has the following information for March: Sales $925,000 Variable cost of goods sold. 480,000 Fixed manufacturing costs. 85,000 Variable selling and administrative expenses. 242,250 Fixed selling and administrative expenses 60,000 Determine (a) the manufacturing margin, (b) the contribution margin, and (c) operating income for Marley Company for the month of March.Instructions 1. Prepare an income statement based on the absorption costing concept. 2. Prepare an income statement based on the variable costing concept. 3. Explain the reason for the difference in the amount of operating income reported in (1) and (2)