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Variable and Absorption Costing Summarized data for 2016 (the first year of oneratinne) for Gorman Products, Inc, are as follows: a. Prepare an income statement

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Variable and Absorption Costing Summarized data for 2016 (the first year of oneratinne) for Gorman Products, Inc, are as follows: a. Prepare an income statement based on full absorption costing. Only use a negative sign with your answer for net income (loss), if the answer represents a nec loss. Otherwise, do not use negative sgns with any answers. Round answe to the nearest whole number, when applicable. b. Prepare an income statement based on variable costing. Only use a negative sign with your answer for net income (loss), if the answer represents a net loss, Otherwise, do nos use negative signs with any answers. Round answers to the nearest whole number, when applicable. to the nearest whole number, when applicable. c. Assume that you must decide quickly whether to accept a special one-dime order for 1,000 units for $60 per unit. Which income statement presents the most relevant data? Determine the apparent profit or loss on the special order based solely on these data. Use a negative sign with your answer if the special order creates an apparent loss. Round answer to the nearest whole number

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