Franklin Manufacturing Company makes a product that sells for $75.60 per unit. Manufacturing costs for the product amount to $25.10 per unit variable, and $97,200 fixed. During the current accounting period, Franklin made 4,500 units of the product and sold 4,000 units. Selling and administrative expenses were zero. Required a. Prepare an absorption costing income statement. b. Prepare a variable costing income statement Complete this question by entering your answers in the tabs below. Required A Required B Prepare a variable costing income statement. FRANKLIN MANUFACTURING COMPANY Variable Costing Income Statement Sales Variable manufacturing costs Contribution margin Fixed manufacturing costs 0 $ 0 Required A Required B Franklin Manufacturing Company makes a product that sells for $75.60 per unit Manufacturing costs for the product amount to $25.10 per unit variable, and $97,200 fixed. During the current accounting period, Franklin made 4,500 units of the product and sold 4,000 units. Selling and administrative expenses were zero. Required a. Prepare an absorption costing income statement b. Prepare a variable costing income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare an absorption costing income statement. (Do not round Intermediate calculations.) FRANKLIN MANUFACTURING COMPANY Absorption Costing Income Statement Sales $ 302,400 Cost of goods sold Gross margin 302.400 Selling and administrative exefenses 0 Net Income $ 302.400 Required Required B