The following data relate to Jupiter Company, a new corporation. During the first year, the company produced 100,000 units and sold 90,000 units: Selling Price Direct materials used Direct labor Variable manufacturing overhead Fixed manufacturing overhead Selling and administrative expenses: Variable Fixed $15 $4 2 1.2 250,000 0.45 300,000 Required A. Compute the product cost under absorption costing and variable costing systems. (25 Points) B. Prepare the income statement using the variable-costing system. (40 Points)