Question 3 10 Points Bahrain Manufacturing Company sells its products for $33 each. Budgeted and actual production is 50,000 units. Sales are 40,000 units. The following additional information is available: Unit manufacturing costs are: Direct materials $6.00 . Direct manufacturing labor $9.00 . Variable manufacturing costs $4.50 Total fixed manufacturing costs $180,000 Fixed marketing expenses $100,000; and Marketing expenses $3.00 per unit sold There is no beginning inventory; and Ending inventory is 10,000 units. REQUIRED: I (a) Prepare an income statement using absorption costing. (b) Prepare an income statement using variable costing. (c) Explain the difference in income between variable and absorption costing. Please click this link Template for Income Statement (Absorption and Variable Costing) and enter your answers. After that you should be able to save your work in the excel template and then UPLOAD it in the answer section below. Use the editor to format your answer