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Note: there is a $250 rounding issue if you try to reconcile the Absorption NOI vs. the Variable NOI Check figure: Variable Product Cost = $18.25 per unit Question 1 10 pts The following data is from the Hedgehog company that manufactures and sells a single product. These costs were incurred as of October 31, 2020: Variable Costs per unit: Direct Materials Direct Labor Variable Manufacturing Overhead Variable Selling & Administrative Fixed Costs: Fixed Manufacturing Overhead Fixed Selling & Administrative $ $ $ $ 3.75 8.00 6.50 1.35 118,750 71,250 During the year the company produced 100,000 units and sold 95,000 units. The selling price per the Company's product is $35.00. Prepare an Income Statement using the Absorption Method. Question 2 10 pts The following data is from the Hedgehog company that manufactures and sells a single product. These costs were incurred as of October 31, 2020: Variable Costs per unit: Direct Materials Direct Labor Variable Manufacturing Overhead Variable Selling & Administrative Fixed Costs: Fixed Manufacturing Overhead Fixed Selling & Administrative A A A A $ $ $ $ 3.75 8.00 6.50 1.35 118,750 71,250 During the year the company produced 100,000 units and sold 95,000 units. The selling price per the Company's product is $35.00. Prepare an Income Statement using the Variable Method