complete all requirements

Data table Assumptions Assume standard costs per unit are the same for units in beginning inventory and units produced during the year. Also, assume no price, spending, or efficiency variances. Any production-volume variance is written off to cost of goods sold. Requirements 1. Prepare income statements under variable and absorption costing for the year ended December 31, 2020. 2. What is Moreno's operating income as percentage of revenues under each costing method? 3. Explain the difference in operating income between the two methods. 4. Which costing method would you recommend to the CFO? Why? The Morens Compary manufactures trendy, highrqualify, modontely prised watches. As Moreno's senior financial analyst you are asked to reocmmend a method af inventory costng. The chief financal offioer (CFO) wil use your rocommendalion to propare Mosens's 2080 income statement. The following data are for the year esded Desember 3t, 2000 : Requirement 1, Prepare income statements under variable and absorpton cotling for the your anded Decemter 31, 2020