Direct labor $$36$ per unit

Variable overhead $ $14$ per unit

Fixed overhead $$448,000$ per year

Variable selling and administrative expenses

Fixed selling and administrative expenses

Units produced and sold

$ $26$ per unit

$28,000$ unitsPrepare an income statement for the year using absorption costing

Prepare an income statement for the year using variable costing.

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Required $2$

Prepare an income statement for the year using absorption costing.