VERY URGENT PLEASE HELP!

Requirements

Prepare an income statement for $2020$ assuming that the production$-$volume variance is written off

at year$-$end as an adjustment to cost of goods sold.

The president has heard about variable costing. She asks you to recast the $2020$ statement as it

would appear under variable costing.

Explain the difference in operating income as calculated in requirements $1$ and $2.$

Graph how fixed manufacturing overhead is accounted for under absorption costing. That is$,$ there will

be two lines: one for the budgeted fixed manufacturing overhead $($which is equal to the actual fixed

manufacturing overhead in this case$)$ and one for the fixed manufacturing overhead allocated. Show

the production$-$volume variance in the graph.

Critics have claimed that a widely used accounting system has led to undesirable buildups of

inventory levels. $($a$)$ Is variable costing or absorption costing more likely to lead to such buildups?

Why? $($b$)$ What can managers do to counteract undesirable inventory buildups?