E5-23 (Static) Comparing Full Absorption Costing and Variable Costing [LO 5S-1) The following information pertains to the first year of operation for Crystal Cold Coolers Inc.: Number of units produced Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per unit ($225,000 - 3,000 units) Total variable selling expenses ($15 per unit sold) Total fixed general and administrative expenses A ta ta ta ta ta ta 3,000 2,500 350 $ 80 $ 60 $ 10 75 $ 37,500 $ 65,000 Required: Prepare Crystal Cold's full absorption costing income statement and variable costing income statement for the year. Complete this question by entering your answers in the tabs below. Full Absorption Costing Variable Costing Prepare Crystal Cold's full absorption costing income statement for the year. CRYSTAL COLD COOLERS INC. Full Absorption Costing Income Statement Less: Cost of Goods Sold Gross Margin Less: Non-Manufacturing Expenses Net Operating Income Prepare Crystal Cold's full absorption costing income statement and variable costing income statement for the year. Complete this question by entering your answers in the tabs below. Full Absorption Costing Variable Costing Prepare variable costing income statement for the year. CRYSTAL COLD COOLERS INC. Variable Costing Income Statement Less: variable cost of goods sold Contribution Margin Less: Fixed Costs Net Operating Income Full Absorption Costing Variable Costing