Absorption Costing vs. Variable Costing: Calculation of Net Operating Income Posey Manufacturing has the following cost information available for the most current year. During the year, Posey produced 12,500 units, out of which 11,000 were sold for $60 each. Required: Hide A. Produce an income statement using variable costing. Posey Manufacturing Company Variable Costing Income Statement $ $ $ Hide B. Produce an income statement using absorption costing. Posey Manufacturing Company Absorption Costing Income Statement $ $ $ C. If Posey needs to take one of these income statements to the bank to apply for a loan, which one should he use? Why? The input in the box below will not be graded, but may be reviewed and considered by your instructor. D. For internal decision making, which income statement would be more useful? Why? The input in the box below will not be graded, but may be reviewed and considered by your instructor