OMaly's Products manulactures a single product Cost, sales, and production information for the company and its singlo product is as follows: (1) (Cick the icon to view the data) Read the reguirements: Requirements 1. Prepare an income statement for the upcoming year using variabie costing 2. Prepare an income statement tor the upcoming year using absontion costing Requilrement 1. Prepare an income statement for the upooming year using variable cosing. - Selling price per unit is 35J - Variable manutacturing costs per unit manufactured (includes diect materiale (DM), direct labor (DC) and varable MOM1) \$20 - Yariabis operating expenses per unt sold 55 - Faed manufachiring overhead (MO+1) in total for the year $143.000 - Fowed operating expenses in fotal for the year 388,000 - Units manutactured and sold for the year 11,000 units