1. Prepare an income statement for 2017 under absorption costing 2.Prepare an income statement for 2017 under variable costing 3. Explain when absorption costing is a preferred method over variable costing? 4. Explain when variable costing is a preferred method over absorption costing? 1. Prepare an income statement for 2017 under absorption costing 2. Prepare an income statement for 2017 under variable costing 3. Explain when absorption costing is a preferted method over variable costing? 4. Explain when variable costing is a preferred method over absorption costing? Zbest MFG Income Statement (Absorption Costing) For the Year Ended December 31, 2017 COGS