High-Tech Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2020 are as follows: i Data Table - The selling price per unit is $2,400. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,250 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Unit data: Beginning inventory Production January February March 0 150 150 1,250 1,225 1,300 1,100 1,225 1,350 Sales Variable costs: Manufacturing cost per unit produced $ 850 $ 850 $ 850 Operating (marketing) cost per unit sold $ 825 $ 825 $ 825 Fixed costs: Manufacturing costs $ 460,000 $460,000 $ 460,000 Operating (marketing) costs $ 190,000 $ 190,000 $ 190,000 1 Requirements 1. Prepare income statements for High-Tech in January, February, and March 2020 under (a) variable costing and (b) absorption costing. 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing. Print Done