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. For the Year Ended December 31 Less: Less: - X More info Selling price per unit is $64 Variable manufacturing costs per unit manufactured (includes direct materials [DM], direct labor [DL], and variable MOH) $39 Variable operating expenses per unit sold $1 Fixed manufacturing overhead (MOH) in total for the year $70,000 Fixed operating expenses in total for the year $91,000 Units manufactured and sold for the year 7,000 units Print Done - 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