The ABC Company manufactures and sells 95" Television sets and uses standard costing. Budgeted level of production is 1,000 units per month. The actual data from January, February and March is as follows: Beginning Inventory Production Sales Variable Costs Manufacturing cost per unit Operating(marketing) cost per unit January February March 300 300 1,000 800 1,250 700 800 1,500 $ 900 $ 900 $ 900 $ 600 $ 600 $ 600 Fixed Costs Manufacturing Costs $ 400,000 $ 400,000 $ 400,000 Perating (marketing) costs $ 140,000 $ 140,000 $ 140,000 Selling Price per unit $ 3,000 Prepare the statement of income for each of January, February and March as follows: 1. Variable Costing 2. Absorption Costing