Haywood Company produces a single product, hair gel. The company provides the following information about its activities. Prepare in good form a variable costing contribution format income statement, an absorption costing income statement, and a reconciliation of variable to absorption costing net operation income.

Number of units produced annually 60,000

Variable MAnufacturing cost per unit (DM,DL,VMOH) $16

Variable selling cost per unit $4

fixed manufacturing overhead $120,000

fixed selling annd administrative expenses $60,000

number of units sold this period 40,000

selling price of unit $60