QUESTION III. 20 MARKS QUESTION III-Part A. 12 MARKS Super Bikes manufactures a basic road bicycle. Production and sales data for the most recent year are as follows (no beginning inventory): Direct materials costs $40 per bike Direct labour costs $32 per bike Variable production costs $13 per bike Total fixed production costs $530,000 Variable selling & administrative costs $17 per bike Total fixed selling & administrative costs $480,000 Selling price $195 per bike Production 21.200 bikes Sales 18,000 bikes sks: Answer the following questions: What are the unit product cost under absorption costing? I mark What are the unit product cost under variable costing? 1 mark What are the unit product cost under throughput costing? I mark d) What is gross profit under absorption costing? I mark What is operating income under absorption costing? 2 marks What is the cost of ending finished goods inventory under throughput costing? 2 marks What is the difference in operating income between absorption and variable costing? Reconcile, do not prepare a separate income statement! 1.5 marks h) What is operating income under variable costing? 0.5 marks i) What is the difference in operating income between absorption and throughput costing? Reconcile, do not prepare a separate income statement! 1.5 marks j) What is operating income under throughput costing? 0.5 marks