QUESTION 2 Sanchez Company has no beginning and ending inventories, and reports the following data about its only product Direct materials used Direct labor Fixed indirect manufacturing Fixed selling and administrative Variable indirect manufacturing Variable selling and administrative Selling price(per unit) $100 Units produced and sold 12,000 $100,000 $80,000 $100,000 $170,000 $20.000 590,000 Prepare the income statement under the absorption and contribution approach and explain the main differences between both approaches Attach File Browse My Computer