PLEASE MAKE SURE YOU DO ALL PARTS OF THE QUESTION

Mange Inc initiated operations on October 1, 2019. During the first fiscal year of operations, the company produced 100,000 units and sold 80,000 units. The absorption costing income statement for the year ended September 30, 2020 is as follows. $4,000,000 Sales (80,000 units X $50 per unit) Cost of goods sold Beginning inventory Cost of goods manufactured (100,000 units * $30 per unit) Cost of goods available for sale Ending inventory (20,000 $30) Cost of goods sold Gross margin Selling and administrative expenses Net Income $ 3,000,000 3,000,000 600,000 2,400,000 1,600,000 540,000 $1,060,000 Additional Information a. Selling and administrative expenses consist of $400,000 in annual fixed expenses and $1.75 per unit in variable selling and administrative expenses. b. The company's product cost of $30 per unit is computed as follows. Direct materials Direct labor Variable overhead Yixed overhead ($900,000 / 100,000 units) $5 per unit $12 per unit $4 per unit 5.9 per unit Required: 1. Prepare an income statement for the company under variable costing 2. Fill in the blanks Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the company under variable costing. Mange Inc Variable Costing Income Statement Not income (5) Required 2 > a. Selling and administrative expenses consist of $400,000 in annual fixed expenses and $175 per unit in variable selling and administrative expenses. b. The company's product cost of $30 per unit is computed as follows. Direct materials Direct Labor Variable overhead Tixed overhead $900,000 / 100,000 units) $5 per unit $12 per unit $ per unit $9 per unit Required: 1. Prepare an income statement for the company under variable costing. 2. Fill in the blanks Complete this question by entering your answers in the tabs below. Required 1 Required 2 Flu in the blanks The doliar difference in variable costing income and absorption costing income od overhead per un Required 1