Two (65 Points) The following data relate to Jupiter Company, a new corporation. During the first year, the company produced 120,000 units and sold 100,000 units: Required Selling Price (per unit) Direct materials used (per unit) Direct labor (per unit) Variable manufacturing overhead (per unit) Fixed manufacturing overhead (total) Selling and administrative expenses: Variable (per unit) Fixed (total) $120 $50 10 5 30,000 1 166,000 A. Compute the product cost under absorption costing and variable costing systems. L 8. Prepare the income statement using the variable-costing system. (25 Points) (40 Points)