Jack Wax is a manufacturer of high-end scented candles. Production and sales information pertaining to Jack's Wax's current year is shown below: 750,000 700,000 $15 Number of candles producon Number of candles sold Sales price per unit Variable manufacturing cost per unit Sales commission cost per unit Fixed manufacturing overhead Fixed selling and administrative costs $2,250,000 $1,640,000 a./5 points Prepare Jack's Wax's income statement using the contribution margin (variable costing) method. Assume Jack's Wax had no beginning inventories. b./5 points) Prepare Jack's Wax's income statement using the traditional (absorption costing) method. Assume Jack's Wax had no beginning inventories c./5 points) Compute ending finished goods inventory in dollars for both the absorption costing method and the variable costing method. Briefly explain how the differences in ending inventory relate to the observed differences in operating income d. 5 points Jack's Wax's CEO believes that, if the company reduces its sales price per candle to $14, it can increase its annual sales to 750,000 units. Assuming that the relevant associated costs remain unchanged, should Jack's Wax reduce its sales price? Please provide an explanation for your