Data concerning Sonderegger Company's operations last year appear below: $110 70,000 60,000 $12.00 Selling price Units in beginning inventory Units produced Units sold Selling price per unit Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $2.00 $1.ee $1.00 $1.50 $140,000 $150,000 Required: a) Prepare an income statement for the year using absorption costing. b) Prepare an income statement for the year using variable costing. c) Prepare a report reconciling the difference in operating income between absorption and variable costing for the year