Problem IV JoKarie Company developed the following unit information for January, 2016, its first month of operations: Sales price Variable costs Direct materials Direct labor Variable manufacturing overhead Selling and administrative expenses Fixed selling and administrative expenses Fixed manufacturing overhead Per Unit $20 5342 12,000 units were produced and 9,000 units were sold during January, 2016. Instructions Total Costs $22,000 36,000 (a) Prepare an income statement under the variable costing approach using the CVP format. (b) Prepare an income statement under the absorption costing approach. (c) Prepare a reconciliation schedule of both.