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Griswold Company manufacturers a professionalgrade vacuum cleaner and began operations in 20200 For 2020, Griswold budgeted to produce and sell 26,000 units: The company had no price, spending. or efficiency vanances Y of goods sold. Actual data for 2020 are given as follows (Click the icon to view the actual data for 2020) Read the ceguirements Requirements Data table a SO balance, make sure to enter "0 I. 2. 3. 4. 'Prepare a 2020 income statement for Griswold Company using variable costing. Prepare a 2020 income statement for Griswold Company using absorption costing Explain the differences in operating incomes obtained in requirements I and 2, Griswolds management is considering implementing a bonus for the supervisors based on gross margin under absorption costing. What incentives will this bonus plan create for the supervisors? What modifications could Griswold management make to improve such a plan? Explain briefly 1 2 3 4 5 6 7 8 9 10 11 12 13 Units produced Units sold Selling price Variable costs: Manufacturing cost per unit produced' Direct materials Direct manufacturing labor Manufacturing overhead Marketing cost per unit sold s s pnnt 17,000 16.500 422 35 24 68 43 910.500 1.421600 Fixed marketing costs Operating income (loss) Done 1421600 2001000 Fixed costs. Manufacturing costs Administrative costs Marketing costs pnnt Done Requirement 2. Prepare a 2020 income statement for Griswold Company using absorption costing Complete the top half of the income statement first then complete the bottom portion. (For amounts with a SO balance, make sure to enter " Absorption Costing Revenues Cost of nnnds qnld 6963000