$15$

Exercise $19-7($Algo$)$ Income reporting under absorption costing and varlable costing LO P$2$

$478$ Sims Company began operations on January $1.$ Its cost and sales information for thls year follow.

poins

olrect inatinisis

Dtinet Iator

Varisble overtosed

Fixad ovenherd

Varizbla suling and odesinistrive oxpenses

Fixud saling and adivistritive experises

Uits producis

thits rold

Sles price

$y30$ per unt

$-se$ per unit

$$30$ per unit

$-7,350,06e$ por yar

$311$ per unit

$44,7se,$ bat par yor

$105,600$ units

$75,60$ wits

$is360$ per wit

Prepare an income statement for the year using variable cocting.

$2$ Prepare on income statement for the year using absorption costing.

Complete this question by entering your answers in the tabs below.

Reteren

Aivitid $1$

asequirie

Prepare an income statement for the vor usinq vorlable costing.

Rentrut