Exercise 3. (20 points) Beta, Inc. produces fruit juices. The product is sold in four gallon containers, which have the following price and variable costs. Sales price. ..$25 ....10 Direct material Direct labor... Variable overhead.. 2 Budgeted fixed overhead in 2020, the company's first year of operations, was $400,000. Actual production was 200,000 five-gallon containers, of which 140,000 were sold. Beta, Inc incurred the following selling and administrative expenses. Fixed. Variable $ 150,000 for the year $ 1 per container sold 0,000. Actual production was 200,000 five gallon containers, of which 140,000 were sold. Beta, Inc incurred the following selling and administrative expenses. Fixed.. Variable $ 150,000 for the year $ 1 per container sold Compute the product cost per container of frozen yogurt under (10 points) Variable costing and Absorption costing Prepare the operating income statement for year 2020 using absorption costing (5 points) Prepare the operating income statement for year 2020 using variable costing. (5 points)