Question One (20 Marks) The following table shows the production unit cost and fixed cost for the first and second term of Chinawear Ltds' business. Sell Produce Selling price per unit Direct material per unit Direct labour per unit Variable Overhead per unit Fixed overhead per Term Term 1 10 units Term 2 10 units 10 units 20 units 80 000 25 000 10 000 2 000 60 000 Required: (a) Draw an income statement for Term 2 using absorption costing (10 marks) (b) Draw an income statement for Term 2 using variable costing (10 marks)