Selected dara for Babar Ltd of past year of operation are presented below

Selected data for Babar Ltd of past year of operations are presented below Product X 2500 2000 $20.00 Production ( in units] Sales [ in units] Selling price Manufacturing cost Raw Materials [$] Salaries of direct labour[$] Variable overhead Fixed overhead Non manufacturing cost Variable selling Fixed selling cost Ending Inventory I $ 8000 $ 8400 $ 2400 $ 4000 $ 8000 $ 3500 $ 740 REQUIRED 1. Calculate product cost of product X using variable cost. 2. Calculate variable cost of goods for the year 3. Find the variable-costing net income 4. Calculate product cost of product X using absorption cost .. 5. Calculate cost of goods for the year using absorption method 6. Find the net income using absorption method GO