Problem \#3: Absorption Reporting vs, Contribution Reporting ( 56 points) The following data was extracted from the acoounting records of Lopez Fashion Idal Corp.: 1. Complete table above by computing the total cost for February 2023 for each cost. ( 6 points) Baye 11 of 16 Complete table above by computing the total cost for Febeuary 2.021 for ash inct. ra maime Problem Sot w1 3. Prepare an absorption format income statement for February 2023 for Lopez. Fashion Ldol Corp. at the current volume. (s geints) Lopex Fashion Idol Corp. Income Statementi Absorption Format For the Month Ended February 28,2023 4. Prepare a contribution format income statement for Fehruary 2023 for Lopez. Fashion Idol Corp. at the current volume. (8 points) Loper Fashion Idol Corp. Income Statement: Contribution Format For the Month Ended February 28, 2023 5. Cornpute the following cost-volume-profit cemponents for Lopee Feshion Idol Corp. using its results for february 2023. (s points) 6. Compute Lopez Fashion Idol Corp.'s menthly breakeven point in units sold and in soles dollsrs. (s points) Monthly Breakeven Point in Units Sold Problem set 11 7. Ay hew much wit tepez Fashion Idol Corp.'s aperating profit increase if it produces and sells one: addeional urie? (2 polets) Vnur Answers Increase in Operating Prafit from the troduction and sale of one additional wnit. 8. By how much with Lopez. Fashion fidol Corp.'s aperating profit increase if it produces and sells 3,400 . additionsl units? (2 points) Increase in Operaking Profit froin the production and sale of 3,400 additional units units Supporting Calculations Required: 9. Dy how much widl Lopez Fashion ldol Corp.'s operating profit increase if it produces units that its selis for a total of $145,000 ? (2 points) Your Answers Increase in Operating Profit from the production and sale of 3,400 additional units Supporting Calculations Requred: 10. Compute Loper Fashion Idol Corp.'s operating profit for March 2023 assuming it sells 94,000 units. (4 points) (4 points) Monthly Operating Profit for March 2023 upporting Calculations. Required