HOW TO SOLVE THIS QUESTION

Zeek Ltd. produces a sells a custom cell phone and tablet cases. The following costs and revenue were incurred by the company for their first year of operations. Units produced 25,000 Units sold 20,000 Selling price! per unit $50 Selling and Admin Expenses Variable $7 4" per unit Total Fixed $150,000 Manufacturing costs Direct Labour $6 per unit Direct Material $15 ner unit Variable manufacturing overhead $5 Total fixed manufacturing overhead $220,000 W a. Calculate the unit product cost using absorption costing and variable costing b. Prepare income statement using absorption costing and variable costing