Question Two Nelson Company, which has only one product, has provided the following data concerning April operations: Selling price Units in beginning inventory Variable costs per unit: Direct materials 584 0 $25 Direct labour $10 Variable manufacturing overhead $7 Variable selling and administrative $10 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $38,000 $21,000 Units Produced: April 2.500 May 4,000 Units Sold: April May 2,200 4,100 The company's variable costs per unit and total fixed costs have been constant from month to month. Prepare an income statement for April and May using the absorption costing method