Managerial accounting please do all requirements

In May 2018, Replende produced 14,000 cases of powdered drink mix and sold 15,000 cases, of which 1,000 were produced in April. The total April production was 15,000. The sales price was $20, variable costs were $11 per case ($8 manufacturing and S3 selling and administrative), and total fixed costs were $80,000 (S50,000 manufacturing and $24,000 selling and administrative). ReplenAde's May income statement using variable costing follows: (Click the icon to view the variable costing income statement.) Read the requirements. i Reference Requirement 1. Prepare the May income statement using absorption costing. ReplenAde Income Statement (Absorption Costing) Month Ended May 31, 2018 300,000 ReplenAde Income Statement (Variable Costing) Month Ended May 31, 2018 Net Sales Revenue $ Variable Costs: Variable Manufacturing Overhead $ 120,000 Variable Selling and Administrative Costs 45,000 Contribution Margin 165,000 135,000 Fixed Costs: Fixed Manufacturing Overhead Fixed Selling and Administrative Costs 56,000 24,000 $ 30,000 55,000 Operating Income Operating Income i Requirements Print Done Choose from any list or enter any number in the input fields and then click Che 1. Prepare the May income statement using absorption costing. 2. Is operating income using absorption costing higher or lower than variable costing income? Explain why. 3. Determine the balance in Finished Goods Inventory as of May 31. parts remaining Check