Complete the area shaded in yellow using the information below

PROBLEM The 2020 data for Danielle Corp. can be found in the table below. The accountant for Danielle Corp. uses normal costing and uses the budgeted volume to allocate the fixed overhead rate. Normal Product Cost 40,000 30,000 50,000 Danielle Corp. Normal Costing Income Statement $ 15.00 Units produced Units sold Budgeted unit volume Cost of beginning inventory Selling price per unit Annual total costs Fixed manufacturing overhead Fixed selling and administrative expenses Unit costs Variable manufacturing costs per unit Fixed manufacturing overhead Variable selling and administrative costs 80,000 20,000 Sales Less: COGS Beginning Inventory + Cost of Goods Manufactured Cost of Goods Available for Sale -Ending Inventory COGS Add: volume variance Gross Margin Less: Selling & Administrative Net Income $ 6.00 2.00 2.00 Absorption Product Cost Danielle Corp Absprtion Costing Income Statement Normal Costing Net Income costs deferred in ending inventory Absorption Costing Net Income Sales Less: COGS Beginning Inventory + Cost of Goods Manufactured Cost of Goods Available for Sale -Ending Inventory COGS Gross Margin Less: Selling & Administrative Net Income