HI PLEASE HELP ME SOLVE STEP BY STEP AND ACCURATELY. THANK YOU

At the end of January, ABC firm had 3,400 units in ending inventory with a total cost of $19,040. During the month of February, ABC Company produced 36,000 units and sold 34,500. For the month, the firm prepared the following contribution format income statement.

Sales $307,050

Variable Manufacturing Costs 131,100

Variable S & A Costs 17,250

CM 158,700

Fixed Manufacting 81,000

Fixed S & A 54,000

NI $23,700

1. (15 marks) Prepare a traditional format income statement assuming absorption costing.

2. (14 marks) Prepare the reconciliation between variable costing net income and absorption costing net income.

3. (6 marks) Suppose the firm wants to achieve a target NI of $50,000. How many units must it sell in order to achieve this goal (assume variable costing).

PLEASE UPLOAD A FILE STEP BY STEP ASAP THANKS

At the end of January, ABC firm had 3,400 units in ending inventory with a total cost of $19,040. During the month of February, ABC Company produced 36,000 units and sold 34,500. For the month, the firm prepared the following contribution format income statement Sales $307.050 Variable Manufacturing Costs 131.100 Variable S & A Costs 17,250 CM 158,700 Fixed Manufacting 81,000 Fixed S & A 54,000 N $23,700 1. (15 marks) Prepare a traditional format income statement assuming absorption costing. 2. (14 marks) Prepare the reconciliation between variable costing net income and absorption costing net income 3. (6 marks) Suppose the firm wants to achieve a target NI of $50,000. How many units must it sell in order to achieve this goal (assume variable costing)