Using the given information,determine the income under both the absorption and the direct (variable)costing methods for CRL Company this year.Explain the difference,if any. 
Definitions:
Cash Outflows
Money that is spent or transferred out of a business, usually as a result of operational expenses, investments, or financing activities.
Depreciation
The accounting method of allocating the cost of a tangible asset over its useful life, reflecting wear and tear or obsolescence.
Time Value
A financial principle acknowledging that receiving money now is more advantageous than receiving the same amount in the future due to its earning potential.
Payback Method
A capital budgeting technique that calculates the time required to recoup the initial investment through cash inflows.
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