Sales . The income statement of a company you recently formed including these statements (in Income statement (ooo) $ 12,00 Selling Expenses (All variable) expenses (All fixed) Fixed Factory overhead (FO) cost Interest Expenses (Fixed) 320 Direct Labour cost General admin Direct material used 180 340 220 Variable 11 1 cost 100 Assuming he absorption approach to income measurement is used, compute the following. Prime cost DL+ DM - PL 340 420 + 4 =$760 conversion cost DL+FO 420 +220 =$640 totaal product cost gross margin sales - all product expenses e) Total period cost (All non manufacturing cat] t net income income Assumping the contribution approach to measurement is used, Compute o Total variable cost b) Total fixed cost e) contribution margin o net income