OMally's Products manufactures a single product. Cost, sales, and production information for the company and its single product is as follows: Yiew the data. Read the requirements. Requirement 1. Prepare an income statement for the upcoming year using variable costing res a single product. Cost, sales, and production information for the company and Data - Selling price per unit is $65 - Variable manufacturing costs per unit manufactured (includes direct materials [DM], direct labor [DL], and variable MOH ) $38 - Variable operating expenses per unit sold $3 - Fixed manufacturing overhead (MOH) in total for the year $208,000 - Fixed operating expenses in total for the year $86,000 - Units manufactured and sold for the year 13,000 units ures a single product. Cost, sales, and production information for the company and is s income statement for the upcoming year using variable costing. Requirements 1. Prepare an income statement for the upcoming year using variable costing 2. Prepare an income statement for the upcoming year using absomption costing