Format Window Help 6 3 B 6.8368 ACC7 19-21 View 125% Zoom Test het Table Chart Text Sheet3 #5. The Windy Wind Chime Company has been producing and selling wind chimes for a number of years. The following information we Selling price per unit $12.50 Variable Cost per Unit: Direct Materials Direct Labor Overhead Selling & Admin $3.00 $2.50 $1.20 $2.35 Fixed Costs (Total) Overhead Selling & Admin $50,000 $45,000 Required: a. Prepare an income statement using the contribution approach for both scenarios b. Prepare an income statement using the absorption approach for both scenarios Scenario 1 Windy Wind Chime has produced and sold 100,000 units Scenario 2 Windy Wind Chime has produced 100,000 units but sold 120,000 units Mail File Edit View Mailbox Message Format Window Help 6.81 D ACC117TEST19-21 125% Zoom View Insert Table Chart e n Shape Media Comment Test Sheet3 roducing and selling wind chimes for a number of years. The following information was gathered for 2016. Selling price per unit $12.50 Variable Cost per Unit: Direct Materials Direct Labor Overhead Selling & Admin $3.00 $2.50 $1.20 $2.35 Fixed Costs (Total) Overhead Selling & Admin $50,000 $45,000 ution approach for both scenarios tion approach for both scenarios bo units ut sold 120,000 units 990. OB 10 T AO9OMAR