X Limited Corporation making one product only, the standard cost of which is as follow: Direct material Direct labor Variable manufacturing overhead Variable marketing costs Total variable costs 2016 35,000 30,000 25,000 10,000 100,000 2017 36000 33000 24000 15000 122000 2018 48,000 42,000 54,000 14,000 158,000 - The fixed manufacturing overhead costs $300,000 - Fixed marketing costs $200,000 - The selling price $200 per unit sold - The number of units produced and sold were: 2017 2016 1000 5000 4000 2018 3000 6000 Beginning inv. Production Sales Ending inv. 3000 1000 Required 1- Prepare income statements under variable, absorption and throughput costing for the year ended December 31, 2018. 2- Explain the difference of the results