Question No. 6 (20 minutes) Whittier Company produced 10,000 cases of cookies for the year ended December 31, 2019. It sold 9,500 cases for $20 each. There were no beginning inventories. Variable manufacturing costs were $60,000, and fixed manufacturing costs were $100,000. Selling and administrative expenses were $20,000, (all fixed). a)Prepare an income statement using the variable costing (contribution margin based) method. b)Prepare an income statement using the absorption costing (IFRS based) method