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In a report, produce a sufficient financial reporting documents using management accounting techniques such as activity based costing and traditional costing methods accurately, considering the appropriate cost analysis techniques to prepare income statement by absorption and marginal approaches including data interpretation for the range of business activities.

1- Operations cost information:

A. Modern Parachute company sells one unit with unit price ($ 75000).

B. The cost of direct materials used in manufacturing parachute is ($ 20000)

per unit.

C. The cost of direct manufacturing labor is ($10000) per unit.

D. Variable manufacturing overhead cost is ($ 2500) per unit

E. Fixed manufacturing cost overhead is ($ 25000) per quarter.

F. Other fixed cost per quarter:

F.1. Managerial employees' salaries ($ 8000)

F.2. Office building depreciation ($ 2000)

F.3. Office equipment depreciation ($ 15000)

2- Assets and liabilities information at the end of first quarter (net income is NOT included):

G. Owner's Equity ($ 2000000)

H. Cash ($ 395000)

I. Office building ($ 454000)

J. Office building- accumulated depreciation ($ 4000)

K. Office equipment ($ 1030000)

L. Office equipment- accumulated depreciation ($ 30000)

M. Accounts Receivable ($ 1000000)

N. Accounts Payable ($ 45000)

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