The following information has been extracted from Universal Inc's financial records for its first year of operations: Units Produced 20,000 Units Sold 18,000 Beg Finished Goods Inventory 0 Sales Price Per Unit $10 Variable Costs per unit: Direct Materials Direct Labor Overhead Fixed Overhead per year $10,000 Fixed Marketing & Admin per $2.000 year (a) Compute the manufacturing cost of one unit under variable costing and absorption costing by completing the table below (12 points). VariaAlesorption Variable Manufacturing Cost per Unit: Direct Material (Units Produced X Variable Cost of Direct Material per unit) Direct Labor (Units Produced X Variable Cost of Direct Labor per unit) Manufacturing OH Fixed Manufacturing Costs Total Costs (also called Cost of Goods Manufactured) Total Cost Per Unit (b) Prepare an income statement under both Variable and Absorption Costing (14 points): Variable Costikbsorption Costing Sales less COGS: Beg F/G Inventory + COGM -Ending F/G Inventory Less: Operating Expenses Operating Income Operating Income-Sales- COGS- Operating Expense)