Managerial Accounting problem -

Please solve the problem in the picture and describe how it is done, thank you.

le The following information relates to Markley Mattresses for fiscal year 2017, the company's first year of operations: Units produced Units sold Selling price per unit Direct material per unit Direct labor per unit Variable manufacturing overhead per unit Variable selling cost per unit Annual fixed manufacturing overhead Annual fixed selling and administrative expense 20,000 17,000 $30 $5 $5 $2 $3 $160,000 $80,000 a. Prepare an income statement using full costing. b. Prepare an income statement using variable costing. Markley Mattresses Full Costing Income Statement For the Year Ending December 31,2017 b. Markley Mattresses Variable Income Statement For the Year Ending December 31, 2017