I have the Income Statements started but am having trouble figuring out how to calculate the amounts. Please help.

Spade Industries has one product. Information about the production and sales of that product for the past year follow. BED (Click the icon to view the data.) The company had no beginning inventory Read the requirements Income Statement (Absorption Costing) For the Year Ended Sales revenue Data Table Less: Cost of goods sold Gross profit Less: Operating expenses Operating income S 48.00 S 17.00 S 8.00 Now prepare the income statement for the year using variable costing. Spade Industries Selling price per unit Direct material per unit Direct labor per unit Total annual manufacturing overhead Fixed portion of annual manufacturing overhead Variable operating expenses per unit sold Fixed operating expenses per year in total Units manufactured Units sold $ 220,000 $ 100.000 7.00 Contribution Margin Income Statement (Variable Costing) For the Year Ended S 45,000 20,000 15,000 Sales revenue Less: Variable expenses Variable cost of goods sold Variable operating expenses Contribution margin Print Done Less: Fixed expenses Fixed manufacturing overhead Fixed operating expenses Operating income Use the statements you prepared to answer the following questions: 1a. 1b. 1c. 1d. What is the product cost per unit using absorption costing? What is the product cost per unit using variable costing? What is the ending inventory balance using absorption costing? What is the ending inventory balance using variable costing? What is cost of goods sold using absorption costing? What is cost of goods sold using variable costing? What is operating income using absorption costing? 1e. 1f. 19. 1h. What is operating income using variable costing? Requirement 2. What is the underlying reason for the difference in operating income between the two costing methods? costing generates a higher operating income. This is because under absorption costing. whereas variable costing