Transcribed image text : Frazer produces jet bridges for many domestic and international airports. Cost information for Frazer's jet bridges is as follows: (Click the icon to view the cost information.) Additional information for the first three quarters of 2020 for Frazer are shown below: (Click the icon to view the additional information for the first three quarters.) Frazer's controller, Parker, wishes to analyze the difference in the income statements between throughput costing. absorption costing. a variable costing for the first 3 quarters of 2020 . Assume no beginning inventory- Data table Data table Requirement 1. Prepare an absorption costing income statement. (Complete all input fields. Enter a 0 for any zero balance acoounts. Use a minus sign or parentheses for a net loss. Abbreviation used: DM = direct materials; SG\&.A = selling. general and administrative.) Requirement 2. Prepare a variable costing income statement (Complete all input fields. Enter a 0 for any zero balance accounts. Use a minus sion or oarentheses for a net loss.) Requirement 3. Prepare a throughput costing income statement. (Complete all input fields. Enter a 0 for any zero balance accounts: Use a minus sign or parentheses for a net loss.) Requirement 4. Explain the difference in the net income under each costing method. The costing method aborbs the most costs into inventory, followed by the costing method absorbing the least amount of costs into inventory. As a result, based on our scenario here where ending inventory is between the three quarters, the costing method results in the highest amount of net income, foliowed by the costing method, with the income for each of the three quarters. Requirement 5 . Based on the information provided, which costing method do you believe Frazer is currently using to calculate the bonus for the production manager? Why? Based on the information provided, Frazer is likely using the resulting in the lowest amount of net manager because inventory is income by the amount of Requirement 6 . If Q4 sales were 77 and Q4 actual and budgeted production was 62 , what difference would you expect in Q4 income between absorption costing and variable costing? Why