| The AMC Corp. produces and sells a single product. The following data refer to the year just completed: Beginning inventory 0 Units produced.. 11,000 Units sold...... 9,000 Selling price per unit. $400 Selling and administrative expenses: Variable per unit. $30 Fixed (total). $110,000 Manufacturing costs: Direct materials cost per unit.. $200 Direct labor (variable) cost per unit $80 Variable manufacturing overhead cost per unit. $20 Fixed manufacturing overhead (total). $440,000 a. Prepare an income statement under the absorption costing approach. b. Prepare an income statement under the variable costing approach