Selling and administrative expenses for these workstations follow. Variable Fixed $ 35 per unit $ 4,000...

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Selling and administrative expenses for these workstations follow. Variable Fixed $ 35 per unit $ 4,000 per year Santana is considering how many workstations to produce in 2021. She is confident that she will be able to sell any workstations in her 2021 ending inventory during 2022. However, Santana does not want to overproduce as she does not have sufficient storage space for many more workstations. Required: 1. Complete the following income statements using absorption costing. 2. Complete the following income statements using variable costing. 3. Which costing method, absorption or variable, yields the higher income when 320 workstations are produced and 300 are sold? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete the following income statements using variable costing. Sales BUSINESS SOLUTIONS Income Statements (Variable Costing) Production volume (units) 300 workstations Sales volume (units) goods sold 320 300 workstations workstations 300 workstations S 1,080,000 $ 1,260,000 x Less: Cost Variable cost of goods sold Plus: Variable expenses Fixed overhead costs Fixed selling and administrative expenses Income 1,080,000 1.260,000 19,200 4,000 19,200 4,000 1,056,800 1,056,800 < Required 1 Required 3 > Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete the following income statements using variable costing. BUSINESS SOLUTIONS Income Statements (Variable Costing) Production volume (units) Sales volume (units) 300 workstations 300 workstations Sales $ Direct materials Direct labor Fixed overhead costs 320 workstations 300 workstations 1,080,000 s 1,080,000 219,000 219,000 ( 96,000 x 96,000 31,500 733,500 31,500 ( 733,500 Contribution margin Fixed overhead costs 19,200 19,200 Fixed selling and administrative expenses G 4,000 4,000 Income 710,300 710,300 Answer is not complete. Description Amount ($) Amount ($) Sales (300 x $3,600) $1,080,000 $1,260,000 Cost of Goods Sold: Direct Materials $219,000 $255,500 Direct Labor $96,000 $112,000 Variable Overhead $21,000 $24,500 Fixed Overhead $19,200 $19,200 Total Cost of Goods Sold $355,200 $411.200 Gross Profit $724,800 $848,800 Selling and Administrative: Variable $10,500 $12,250 Fixed $4,000 $4,000 Total S&A Expenses $14,500 $16.250 Net Income $710,300 S832,550 Selling and administrative expenses for these workstations follow. Variable Fixed $ 35 per unit $ 4,000 per year Santana is considering how many workstations to produce in 2021. She is confident that she will be able to sell any workstations in her 2021 ending inventory during 2022. However, Santana does not want to overproduce as she does not have sufficient storage space for many more workstations. Required: 1. Complete the following income statements using absorption costing. 2. Complete the following income statements using variable costing. 3. Which costing method, absorption or variable, yields the higher income when 320 workstations are produced and 300 are sold? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete the following income statements using variable costing. Sales BUSINESS SOLUTIONS Income Statements (Variable Costing) Production volume (units) 300 workstations Sales volume (units) goods sold 320 300 workstations workstations 300 workstations S 1,080,000 $ 1,260,000 x Less: Cost Variable cost of goods sold Plus: Variable expenses Fixed overhead costs Fixed selling and administrative expenses Income 1,080,000 1.260,000 19,200 4,000 19,200 4,000 1,056,800 1,056,800 < Required 1 Required 3 > Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete the following income statements using variable costing. BUSINESS SOLUTIONS Income Statements (Variable Costing) Production volume (units) Sales volume (units) 300 workstations 300 workstations Sales $ Direct materials Direct labor Fixed overhead costs 320 workstations 300 workstations 1,080,000 s 1,080,000 219,000 219,000 ( 96,000 x 96,000 31,500 733,500 31,500 ( 733,500 Contribution margin Fixed overhead costs 19,200 19,200 Fixed selling and administrative expenses G 4,000 4,000 Income 710,300 710,300 Answer is not complete. Description Amount ($) Amount ($) Sales (300 x $3,600) $1,080,000 $1,260,000 Cost of Goods Sold: Direct Materials $219,000 $255,500 Direct Labor $96,000 $112,000 Variable Overhead $21,000 $24,500 Fixed Overhead $19,200 $19,200 Total Cost of Goods Sold $355,200 $411.200 Gross Profit $724,800 $848,800 Selling and Administrative: Variable $10,500 $12,250 Fixed $4,000 $4,000 Total S&A Expenses $14,500 $16.250 Net Income $710,300 S832,550