||| two part homework question

Wayne Frederick expects sales of Bison Business Solutions's line of computer workstation furniture to equal 300 workstations (at a sales price of $4,000 each) for 2021. The workstations manufacturing costs include the following Direct materials 5 70 per unit Direct labor $320 per unit Variable overhead 10 per unit Fixed overhead 524.000 per year The selling expenses related to these workstations follow. Varile selline $ 45 per unit 3,00 per year Wayne Frederick is considering how many workstations to produce in 2021. He is confident that he will be able to sell any workstations in his 2021 ending inventory during 2022. However Wayne Frederick does not want to overproduce as he does not have sufficient storage space for many more workstations Required: 1. Complete the following income statements using absorption costrig 2. Complete the following income statements using variable costing. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the following income statements using absorption costing. Cost of goods sold: Production volume 300 320 workstations workstations Cost of goods sold per unit Number of workstations sold Total cost of goods sold Bison Business Solutions Absorption Costing Income Statements Production volume 300 320 Cost of goods sold per unit Number of workstations sold Total cost of goods sold Bison Business Solutions Absorption Costing Income Statements Production volume Sales volume - 300 Workstations 300 320 workstations workstations Under absorption costing, can the difference between production volume and sales volume affect the reported net income (loss)? Required 2 > Complete the following income statements using variable costing. Bison Business Solutions Variable Costing Income Statements 300 Production volume (units) workstations Sales volume (units) 320 workstations Saved IMMY workstations workstations Sales volume (units) Net income (loss) Under variable costing, can a company increase its net income by increasing production?