ORaflerty/s Products manufactures a single product. Cost, sales, and production information for the company and iss single product is as follows: Yiew the data. Read the requirements. Requirement 1. Prepare an income statement for the upcoming year using variable costing. Data - Selling price per unit is $57 - Variable manufacturing costs per unit manufactured (ncludes direct materiais [DM, direct labor (DL), and variable MOH) $32 - Variable operating expenses per unit sold \$1 - Fived manulacturing overthead (MOH) in total for the year $90,000 - Fued eperating expenses in fotal for the year $37,000 - Unts manufactured and sold for the year 0,000 units Requirements 1. Prepare an income statement for the upcoming yoer using variabie costing 2. Prepare an income statement for the upcoming year using absorpton costing