In your new job as an analyst for Golden Gurus, Inc., a Company that manufacturers home gym equipment, you have been asked to determine the effect on income of using variable costing instead and absorption costing. The relevant data for one of the products, the Gut Buster, are as follows: Unit Selling Price $65 Units in beginning inventory 0 Units produced 98,000 Units sold 75,000 Variable costs per unit: Direct materials $14 Direct labor $12 Manufacturing overhead $7 Selling and administrative costs $2.50 Fixed costs: Manufacturing overhead $392,000 Selling and administrative costs $7,000 Required: What is unit cost using absorption costing? What is net income using absorption costing? What is unit cost using variable costing? What is net income using variable costing