Hyper Color Co. Manufactures Widgets...the following data is related to sales and production of the widgets for last year.

Selling price per unit ..... $130

Variable Manufacturing costs per unit .... $61

Fixed Manufacturing Overhead (total) .... $35,000

Fixed Selling and Administrative Expenses (total) ... $8,000

Units Produced ... 1700

Units Sold ... 1400

Prepare an operating income statement for both Absorption and Variable Costing (explain why different)