Coc Company produces widgets. The following information is for 2020: 1,000 300 Beginning Inventory Production Sales Ending Inventory 8.000 6.500 1,500 Selling Price per unit Variable Manufacturing Cost per Unit Variable Marketing Cost per Unit Sold Total Fixed Manfacturing Costs (all indirect) Total Fixed Marketing cost (all indirect) 80 1,200.000 900.000 Work-in-process inventory is zero. There are no price variances, efficiency variances, or spending variances. Budgeted Production is equal to 8000 so there is no production volume variance. Required: 1. Produce a variable cost income statement. 2. Produce an absorption cost income statement. 3. Reconcile the absorption operating income to the variable cost operating income