Data for 2020: Variable manufacturing cost Fixed manufacturing cost Beginning inventory Budgeted level of production Actual Production Sales Variable selling costs Fixed selling costs $6.80 / unit $52,000 500 units; cost per unit was same as 2020. 10,000 units 10,200 units 10,300 units @ $21.50/unit $.90 / unit sold $12,000 Create Absorption and Variable costing income statements. Be sure to include the following terms as appropriate: Cost of Goods Sold, Contribution Margin, Gross margin, Operating income. Hint: Be sure to account for the Production Volume Variance properly in the income statement. Absorption Costing income statement (8 points) Variable costing income statement (8 points) Revenue $221,450 Revenue $221,450