O'Neill'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. More info Requirements - Selling price per unit is $64 1. Prepare an income statement for the upcoming year using variable costing. Variable manufacturing costs per unit manufactured (includes direct materials 2. Prepare an income statement for the upcoming year using absorption [DM], direct labor [DL], and variable MOH)$35 - Variable operating expenses per unit sold $1 - Fixed manufacturing overhead (MOH) in total for the year $192,000 - Fixed operating expenses in total for the year $86,000 - Units manufactured and sold for the year 12,000 units