Monroe Corporation manufactures Product X The following data concem costs for 2020 Total Cost Number of Units Produced Unit Cost Manufacturing costs Variable Fixed Total $375,000 150.000 $525,000 15,000 15.000 $25 10 $35 Selling and admin expenses Variable ($5 per unit sold) Fixed Total $ 60,000 40.000 $100,000 Product X sells for $60 per unit. There is no beginning inventory. Prepare an absorption costing income statement assuming that 12,000 units were sold