Newton, Inc. had the following information for 2020. Selling Price per Unit $110 Variable Manufacturing Costs per Unit Manufactured $50 Variable Advertising Costs per Unit sold SIS Fixed Manufacturing Costs $600,000 Fixed Advertising Costs 5300,000 Beginning Inventory/units) Production Volume Sales Volume Ending Inventory 0 30.000 23,000 5.000 a. Create a computer spreadsheet to prepare Contribution Margin Statementing the variable costing method Newton, Inc. Contribution Margin Statement (Variable Costing) For the Year Ending on December 31, 2020 Sales Variable Costs Beginning Inventory SO Variable Manufacturing Costs 1.500.000 Less: Ending Inventory Variable Cost of Goods Sold 1.250.000 Variable Advertising Costs Total Variable costs 1.625,000 Contribution Martin Fixed Manufacturing Costs Fixed Advertising Costs Total Fixed Costs 900,000 Operating Profit 225,000 b. Create a computer spreadsheet to prepare an Income Statement wing the bumption costing method. Newton, Inc. Income Statement (Absorption Costing) For the Year Ending on December 31, 2020 Sales Is Cost of Goods Sold Beginning laventory SO Variable Manufacturing Costs Fixed Manufacturing Costs Less: Ending Inventory 350,000 Cost of Good Sold 1.750.000 Gross Profit Variable Advertising Fixed Advertising Costs Total Advertising Costs 675,000 Operatin Profit 325.000