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CoursHeroTranscribedText: ACME Inc. produces mgluises at its factory. The following information relates to the production of the sunglasses forth: period mtngmlune 202I. Productio- Sales (Units) (Units) Budgeted 75,000 12,500 Actual 30,000 77,500 Budgeted Actual Fixed production cost 5150.000 5781.250 Fixed selling owrbeod $562,500 $562,500 Thexed woducdonoverheadwasabsorbedatapmdeteminedmeperunitproduced Anah- of sungiamea was sold for $450. At the beginning of May 2020, there was opening inventory of 4.3?5 oaits valued at $261,500: this Includes xed production overhead of 543350. Required: (a) Prepm a marginal costing income statement for the company. {4 marks) at) Prepare an absorption costing income statement the the company. {It marks} (c) Reconcile the income under both statements. {2 marks) [d] Distinguish between variable costing and absorption costing. {3 marks)