XYZ Company produces a single product with the following information available. Evaluate and construct an Income statement using Variable Costing. (Marking Scheme: Unit Product Cost Computation-3 Marks, Correct Preparation of Income statement-7 Marks) Number of Units Produced and Sold Annually 40,000 units Selling Price per unit BHD 80 Variable cost per unit: Direct Materials BHD 8 Direct Labor BHD 5 Selling & Administrative Expenses BHD 2 Fixed Costs per year Manufacturing overhead/ Selling & Administrative Expenses BHD 80,000 BHD 60,000