$ $ 35 per unit 55 per unit $ 30 per unit $7,700,000 (per Manufacturing costs Direct materials Direct labor Overhead costs Variable Pixed Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit year) $ 800,000 $4,750,000 110,000 units 80,000 units 360 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 1 Required 2 Prepare an income statement for the year using variable costing. SIMS COMPANY Variable Costing Income Statement Sales $ 28.800,000 Less: Variable costs Direct materials $ 2.800,000 Direct labor 4.400,000 Variable overhead costs Variable selling and administrative expenses 300,000 8,000,000 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 1 Required 2 Prepare an income statement for the year using absorption costing. SIMS COMPANY Absorption Costing Income Statement + Net income (loss)