SP 19 Serial Problem Business Solutions (Algo) LO P2 Santana Rey expects sales of Business Solutions' line of computer workstation furniture to equal 300 workstations at a sales price of $3,300 each) for 2021. The workstations' manufacturing costs include the following. Direct materials Direct labor Variable overhead Fixed overhead $ 740 per unit $ 350 per unit $ 90 per unit $ 28,800 per year Selling and administrative expenses for these workstations follow. Variable Fixed $ 45 per unit $ 3,700 per year Santana is considering how many workstations to produce in 2021. She is confident that she will be able to sell any workstations in her 2021 ending inventory during 2022. However, Santana does not want to overproduce as she does not have sufficient storage space for many more workstations, Required: 1. Complete the following income statements using absorption costing. 2. Complete the following income statements using variable costing. 3. Which costing method, absorption or variable, yields the higher income when 320 workstations are produced and 300 are sold? Complete this question by entering your answers the tabs below. Required 1 Required 2 Required 3 Complete the following income statements using absorption costing. Production volume 300 320 workstations workstations Product cost per unit - Absorption costing Product cost per unit - Absorption costing Number of workstations sold Total cost of goods sold BUSINESS SOLUTIONS Income Statements (Absorption Costing) Production volume 300 320 Sales volume - 300 Workstations workstations workstations 0 0 $ 0 Required 1 Required 2 Required 3 Complete the following income statements using variable costing. BUSINESS SOLUTIONS Income Statements (Variable Costing) 300 Production volume (units) workstations 300 Sales volume (units) workstations 320 workstations 300 workstations 0 0 $ 0 $ 0 Required: 1. Complete the following income statements using absorption costing. 2. Complete the following income statements using variable costing. 3. Which costing method, absorption or variable, yields the higher income when 320 workstations are produced and 300 are sold? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Which costing method, absorption or variable, yields the higher income when 320 workstations are produced and 300 are sold? Which costing method, absorption or variable, yields the higher income when 320 workstations are produced and 300 are sold?