Paint More LLC has organized a new division to manufacture andsell specialty pai

Paint More LLC has organized a new division to manufacture andsell specialty paint. The divisions monthly costs are shownbelow:Manufacturing costs:Variable costs per unit:Direct materials $12Variable manufacturing overhead $1Fixed manufacturing overhead costs (total) $100000Selling and administrative costs:Variable 7% of salesFixed (total) $31000Because the production is highly automated the company includesits labor costs in its fixed manufacturing overhead. The gallons ofpaint sell for $68 each. During September the first month ofoperations the following activity was recorded:Units produced 5000Units sold 4000Submit an Excel document which each tab labeled by item number ingood form that demonstrates the following:Compute the unit product cost under:Absorption costingVariable costingPrepare an absorption costing income statement for SeptemberPrepare a contribution format income statement for September usingvariable costing;