Given the following information: Other information: - The manufacturer uses FIFO (this is to make is easier to solve - weighted average would be a lot more difficult to solve) - The manufacturer uses Standard Costing Required: A. Prepare an income statement for the Current Year based on Variable Costing. B. Prepare an income statement for the Current Year based on Absorption Costing. C. Prepare a T-account that for Fixed Manufacturing Overhead based on Absorption costing that showsi actual costs, applied costs, rate variance and production volume variance (hint: this account should be at zero at yearend) D. Reconcile the difference in Net Income between Variable Costing and Absorption Costing for the current year. (hint: compare this difference in income to the differences in ending inventory for Absorption Costing and Variable Costing)