Question 3 (6marks)The income statement for Muckey Inc. (Muckey) for the month ended April30,2021, isas follows:Sales (112,500 units)$1,462,500Variable cost of goods soldBeginning inventory156,250Variablemanufacturing overhead500,000Ending inventory(93,750)562,500Variable selling expense112,500Contribution margin787,500Fixed manufacturing overhead300,000Fixed selling expense112,500Net income$375,000Muckey's variable production costs per unit and total fixed costs wereconsistent withcosts inthe first quarter of2021.Muckeymanufactured 100,000 units in April 2021.Required:a)Calculate Muckey's ending inventory (in dollars) at April30,2021, using absorptioncosting.(4marks)b)Calculate Muckey's net income for April2021using absorption costing.(2marks)