Question 3: During a recent period, National Company produced 15,000 units and sold 10,000 at $15 each. The company had no beginning inventory. During this period National Company incurred the following costs for the current level of production. Unit costs should be calculated from the units produced. Direct materials $ 60,000 Direct labor 30,000 Fixed overhead 22.500 Variable overhead 15,000 Fixed selling & administrative 30,000 Variable selling & administrative 11.250 Required: a. Prepare an income statement using absorption costing b. Prepare an income statement using variable costing. c. Briefly explain the difference between the gross margin format and the contribution margin format for the income statement. What information is highlighted with each