Tim paine obtained a patent on a small digital chip and organiized tim products inc to produce them and sell them. income statement$----$Sales $40000$ units $=$ $$200,000$ Variable cost of goods sold$$80,000$ Variable selling and Admin $$30,000$ Contribution Margin $$90,000$ Fixed Man Overhead $$$75,000$ Fixed Selling and Admin $$$20,000$ Net operating loss $$5000$ SchedulLed cost of data relating to first month Units produced $50000$ Units sold $40000$ Variable cost$-$Dm $$1\mathrm{.}00,$ Dl $$0\mathrm{.}80$ VOH $$0\mathrm{.}20$ FOH $$0\mathrm{.}751$:Calculate unit cost under Absorption Costing $2$:redo the income statement under Absorption Costing $3$:Reconcile the variable and absorption costing net operating income or loss. $4$:During the second month of operations, the company $50,000$ units and sold $60,000$ units. Assume no change in fixed cost. Prepare a contribution format income statement using variable costing