35 per unit 55 per unit 3 Ranufacturing costs Direct materials Direct labor Overhead costs Variable $ 28 per unit $8,000,000 (per year) $ 780, eee $4,00e, eee Fixed Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit 100, 800 units 78, 800 units 35e per unit 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. Complete this question by entering your answers in the tabs below. Required i Required 2 Prepare an income statement for the year using variable costing. SIMS COMPANY Variable Costing Income Statement Sales ess. Variable costs Direct materials Direct labor Variable overhead costs Variable selling and administrative expenses Total variable costs Contribution margin Less Fixed expenses Fixed overhead costs Fored selling and administrative costs Net income foss) Required 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using absorption costing. SIMS COMPANY Absorption Costing Income Statement Net income (loss) Required 1