This is an individual or team assignment. If you work on as a team, submit only one copy with everyone's names on it. Do not work with other teams or individuals (unless they are on your team). If two assignments submitted are the same, all members of both teams will receive zero so ensure you know what you are putting your name on. Student names cannot be added after the assignment is submitted. This must be typed and submitted in Word or Excel not PDF or photo or anything else. Snowflake manufactures and sells a pump used in a wide variety of applications. During the coming year it expects to sell 30,000 units for $17.50 per unit. They are considering producing either 30,000 or 40,000 units during the period. Other information is presented in the schedule. Beginning inventory Expected sales in units Selling price per unit Variable manufacturing cost per unit Fixed manufacturing overhead cost (total) Selling and administrative expense (all fixed) Snowflake Information - 2019 0 30,000 $17.50 $6.25 $145,000 $47.000 Instructions 1. Prepare a variable costing and absoiption income statements with one column showing the results if 30,000 units are produced, and one column showing the results if 40,000 units are produced 2. Reconcile variable income and absorption income at production of 40,000 units. 3. Why is the income the same at 30,000 units under both absorption and variable costing