Irruntomy Valuation under Abtorpban Costing and Varisble Coiting We the end of the firt year at operabons, 5,100 units remained in the fintinied goods invenkorr. The unit mankiacturing costs during the yoar were ats follows: Determint the cost of the finished goods imventory rwported on the balance sheet under (a) the absorption costing conce pt and fo) the variable couthig concept. Akrichton conting 1 Warable cogeing Income Statements under Absorpboh Cesting and Varibble Costing Crazy Mountain Sports Inc assembles and sells snowmoblet engines. The compary beghn operabions on March 1 and operated at 100% of cagacity during thin firs month. The foliowng data summantse the resuits for March: If required, round interim per-unit calculations to the nearest cent. a. Prepare an incomie statement bccording to the sbsorption costing concegt Craxy Mountalin Sports Ine Abserptioin Costing Income b. Prepare an incorme statemnnt accotding to the variable costing concept