Exercise 19-3 Income reporting under absorption costing and variable costing LO P2 Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows point 3 2046 35 per unit 55 per unit $ 6 per unit .00 ( year) 0 Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed Sellandinistrative costs for the year Valable Fixed Production and sales for the year Units produced Utold Sales price per unit $ 750. $4.500.00 105 units 75,000 units 300 per unit rences 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 Prepare an income statement for the year using variable costing. SIMS COMPANY Variable Casting come Statement 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 Not income (loss) Required 2 >