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SP 6 Serial Problem Business Solutions (Algo) LO P2 Santana Rey expects sales of Business Solutions' line of computer workstation furniture to equal 300 workstations (at a sales price of $3,400 each) for 2021. The workstations manufacturing costs include the following. Direct materials Direct labor Variable overhead Fixed overhead $740 per unit $ 380 per unit $50 per unit $14,400 per year Selling and administrative expenses for these workstations follow. Variable: Fixed $40 per unit $3,000 per year Santana is considering how many workstations to produce in 2021. She is confident that she will be able to sell any workstations in her 2021 ending inventory during 2022. However, Santana does not want to overproduce as she does not have sufficient storage space for many more workstations. Required: 1. Complete the following income statements using absorption costing 2. Complete the following income statements using variable costing 3. Which costing method, absorption or variable, yields the higher income when 320 workstations are produced and 300 are sold? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the following income statements using absorption costing. Product cost per unit-Absorption costing Product cost per unit-Absorption costing Number of workstations sold Total cost of goods sold Production volume 300 320 workstations workstations nces 3. Which costing method, absorption or variable, yields the higher income when 320 workstations are produced and 300 are so Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the following income statements using absorption costing. Product cost per unit-Absorption costing Product cost per unit-Absorption costing Number of workstations sold i Total cost of goods sold Production volume 300 320 workstations workstations BUSINESS SOLUTIONS Income Statements (Absorption Costing) Sales volume-300 Workstations Production volume 300 320 workstations workstations Under absorption costing, can the difference between production volume and sales volume affect the reported net income (loss)? Required 2 > . Which costing method, absorption or variable, yields the higher income when 320 workstations are produced and 300 are s Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the following income statements using variable costing. BUSINESS SOLUTIONS Income Statements (Variable Costing) Production volume (units) Sales volume (units) Under variable costing, can a company increase its net income by increasing production? 300 workstations