Income Statement using Variable and Absorption costing, accounting homework help

Oliver Inc. produces anoak rocking chair that is designed to ease back problems.  The chairs sell for $300 each.  The results of last year’s operations are asfollows:Units in beginning inventory.                                 0Units produced during the year.                        25,000Units sold during the year.                                 20,000Units left in ending inventory.                             5,000Variable manufacturing costs per unit.  Direct materials                                                  $70Direct labor                                                           20Variable manufacturing overhead                        15Variable selling and administrative                       10Total variable cost per unit                                  $115Fixed costs:  Fixed manufacturing overhead                           $600,000Fixed selling and administration                          650,000Total fixed costs                                               $1,250,000Required: a) Determinethe unit product cost under absorption costing, variable costing, andthroughput costing.b) Preparean income statement using variable costing.c) Preparean income statement using absorption costing.d) Explainthe difference in operating income for the two costing systems.