Che produces a bridges for many domestic and email ports Cost Home for Chou's jet bridges is on then to view the conformation Amin for the first ter of 2020 for Chesses are shown below ITII Click the con ew the domation for the first three quarter) Che controler Nate, whes to analyze the difference in the income statements between throughout conting absorption couting and variable costing for the first 3 quarter of 2000. Assume no beginning inventory Requirement 1. Prepare an absorption costing income statement. (Complete all input fields. Enter a O for any zero balance accounts. Use a minus general and administrative.) Absorption Costing: Quarter 1 Quarter 2 Quarter 3 Revenues Cost of goods available for sale MIT Net income (loss) - Data table $ 5,000 $ 2,800 $ 5,600 1.700 $ Variable costs per jet bridge: Materials Labor Manufacturing Overhead Selling General and administrative Fixed costs for the first 3 quarters of 2020: Manufacturing Overhead Selling General and administrative $ 900 $ 946,000 allocated based on budgeted production $ 480,000 $ 865,000 Print Done Data table blir 1st Quarter 2nd Quarter 3rd Quarter 70 76 74 70 76 74 65 70 65 Budgeted production Actual production Sales Sales price: $36,000 per jet bridge Fixed selling costs by quarter Fixed G&A costs by quarter 170,000 170,000 140,000 240,000 385,000 240,000 Print Done 1 Requirements 1. Prepare an absorption costing income statement 2. Prepare a variable costing income statement 3. Prepare a throughput costing income statement 4. Explain the difference in the net income under each costing method. 5. Based on the information provided, which costing method do you believe Chesser is currently using to calculate the bonus for the production manager? Why? 6. If Q4 sales were 76 and Q4 actual and budgeted production was 61, what difference would you expect in Q4 income between absorption costing and variable costing? Why? Print Done