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Portfolio Question Two - Overheads Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in the prior year. These data summarize the current and prior year operations: Data Prior year 1,800 units $3.00 2,000 units Current Year 2,200 units $3.00 2,000 units Sales volume Selling price per unit Production volume Production cost: Factory-variable (per unit) fixed Marketing-variable Administrativefixed Beginning inventory $0.60 per unit $1,000 $0.40 per unit $500 0 units $0.60 per unit $1,000 $0.40 per unit $500 Required 1. Prepare an income statement for each year based on absorption costing. 2. Prepare an income statement for each year based on variable costing. 3. Prepare a reconciliation and explanation of the difference each year in the operating income resulting from using the absorption costing method and variable costing method