Selected data for Babar Ltd of past year of operations are presented below: Product X Production [ in units] 4750 Sales [ in units] 2800 Selling price $15.00 General activity (DL Hours) 5080 General activity (Machine hours) 1800 DLH RATE $21.00 Manufacturing cost Raw Materials [$] 3400 Direct Labour Hours 140 Manufacturing Overhead Variable overhead $2350 Fixed overhead $5600 Non manufacturing cost Variable selling $2618 Fixed selling cost $3560 Estimated total fixed cost for the company = $54,000. Company uses direct labour hours to assign cost in its absorption method of allocating cost to manufacturing overhead. REQUIRED 1. Calculate product cost of product X using variable cost 2. Calculate product cost of product X using absorption cost .. 3. Calculate variable cost of goods for the year 4. Find the variable-costing net income 5. Calculate cost of goods for the year using absorption method 6. Find the net income using absorption method