number, when applicatie. b. Prepare an income statement based on variable costrg. number, when applicable. ci Alsume that you must decide quickly whether to accept a speciat one ume order for 1,000 units for 190 per unit: Which inconve stateinenk presents the most relewant data? Determine the apparent profit of lons onthe specal order based solef on these data. Usea negative sign with your answer if the special order creates an apparent lost. flound answer to the nearest whole number. 1 4. If the ending imventory is destroyed by fire, which costing approsch would you use as a basis for filing an insurance daun for the fire loss? Why? Select the most appropriate statement. CAbsorption costing approach because the cost should include a reasonsble portion of fued manulacturing couts: ONariatie costing approach because the cost thould indude a reatonable portion of fued manufacturing costs. Variable and Absorption Costing Summarized data for 2016 (the firstyean of operations) for Gomman Products, linc, are as follows: a. Prepare an income statement based on full absorption costing. Only use a negaive sign with your answer for net income (oossk, if the answer represents a net loss. Otherwise, do not use negative signs with ary answers found answers to number, when applicable. a. Prepare an income stateanentbased on full absorption costing namber, when applicable. b. Prepare an intome statement based on vanible costang Only use a negative sign wath your answer for net income foss., If the answer represents a net loss. Otherwise, do not use nezatire sigis weh any answeis. Round answers to the nearest number, when applicable. b. Prepare an incomestatement based on variable costing; Only use a negative sign with your answer for net income (loss), if the answer represents a net loss. Otherwise, do not use negative signs with any ansy number, when applicable. c. Assume that you must decide quickly whether to accept a special one-time order for 1,000 units for 390 per unit. Which income statement presents the most relevant data? Determine the apparent profit or loss on the special order based solely on these data. Use a negative sign with your answer if the special order creates an apparent loss. Round answer to the nearest whole number. d. If the ending inventory is destroyed by fire, which costing approach would you use as a basis for filing an insurance caim for the fire loss? Why? Select the most appropriate statement, Sbsorption costing approach because the cost should include a reasonable portion of fixed manufacturing costs. lariable costing approach because the cost should include a reasonable portion of fixed manufacturing costs, Please answer all parts of the