O'Hara's Products manufactures a single product. Cost, sales, and production information for the company and its single product is as follows: (Click the icon to view the data.) Read the requirements. Requirement 1. Prepare an income statement for the upcoming year using variable costing. O'Hara's Products Contribution Margin Income Statement (Variable Costing) For the Year Ended December 31 Sales revenue $ 780,000 Less: Variable expenses Variable cost of goods sold Variable operating expenses Contribution margin Less: Fixed expenses Fixed manufacturing overhead Fixed operating expenses Operating income Choose from any list or enter any number in the input fields and then click Check Answer i More Info Selling price per unit is $60 Variable manufacturing costs per unit manufactured (includes direct materials [DM], direct labor [DL], and variable MOH) $35 Variable operating expenses per unit sold $3 Fixed manufacturing overhead (MOH) in total for the year $104,000 Fixed operating expenses in total for the year $93,000 Units manufactured and sold for the year 13,000 units Print Done i Requirements 1. 2. Prepare an income statement for the upcoming year using variable costing. Prepare an income statement for the upcoming year using absorption costing. Print Done