Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate complet? (1) Required information Lynch Company manufactures and seils a single product. The following costs were incurred during the comparyys first. year of operations: During the year, the company produced 25,000 units and sold 20,000 units, The selling price of the compapy's product is $50 per unit. 3. Review the Tableau visualization that accompanies this requirement and answer the following questions: Variable vs. Absorption Costing thalance Period fapente EndingFG imuntory [eoter coods sold b. Which of the following statements is true regarding the Absorption Costing: Fixed Overhead (AC: FOH) bar in the visualization? $240,000 of the fixed manufacturing overhead is included in cost of goods sold in the income statement and the remaining $60,000 is included in ending finished goods inventory on the balance sheet. $240,000 of the fixed manufacturing overhead is included in cost of goods sold in the balance sheet and the remaining $60,000 is included in ending finished goods inventory on the income statement. $60,000 of the fixed manufacturing overhead is included in cost of goods sold in the income statement and the remaining $240,000 is included in ending finished goods inventory on the balance sheet. - $60,000 of the fixed manufacturing overhead is included in cost of goods sold in the balance sheet and the remaining $240,000 is included in ending finished goods inventory on the income statement. c. Based on a review of the red bars in the visualization, which of the following statements is true? The absorption costing net operating income is $60,000 less than the variable costing net operating income. The absorption costing net operating income is $240,000 greater than the variable costing net operating income. The absorption costing net operating income is $60,000 greater than the variable costing net operating income. The absorption costing net operating income is $240,000 less than the variable costing net operating income