PLEASE SOLVE FAST AND USE THE SIMPLEST METHODS POSSIBLE AND SHOW STEPS IM 2ND YEAR ACCOUNTING COLLEGE. AND I DONT TAKE ADVANCED TECHNIQUES MY TEACHER WILL NOTICE PLEASE USE SIMPLE METHODS AND SHOW STEPS, THANK YOU

From the following data: 1- Selling price per unit = $80 2- Manufacturing costs: Direct material per unit = $8 Direct labor per unit = $6 Variable MOH = $4 Fixed MOH = $120,000 3- Selling and administrative costs: Variable cost per unit sold = $7 Fixed costs = $70,000 4- Inventory, production and sold units: Inventory 2016 Beginning Inventory 2000 Production 6,000 Units Sold 8,000 *Budgeted Production = 6,000 units Required: Prepare the cost statement and income statement using: a. Absorption costing b. Variable costing