Question 4 The following information is provided from Carrington Corp. for the months of May and June: May June Units Produced 36,000 40,000 Units Sold 28,500 41,500 Direct Material $263,000 $278,000 Direct Labor $97,000 $100,000 Variable MOH $47.000 $52,000 Fixed MOH $185,000 $185.000 Variable Selling/Admin $68,000 $74,000 Fixed Selling/Admin $77,000 $77.000 Sales Revenue $710,000 $795,000 ROUND ALL NUMBERS TO TWO DECIMAL POINTS 1. Prepare the ,June income statement using Variable Costing 8 pts 2. Prepare the June Income statement using Absorption Costing. Assume ending inventory in May is sold in June. 11 points 3. Explain the difference in recognized net income. 5 points