Question: Hello, Could someone please help me with the following? Problem 19-2A (Static) Variable costing income statement LO P2 Trez Company began operations this year. During

Hello, Could someone please help me with the following?

Hello, Could someone please help me with the following? Problem 19-2A (Static)Variable costing income statement LO P2 Trez Company began operations this year.

Problem 19-2A (Static) Variable costing income statement LO P2 Trez Company began operations this year. During this year, the company produced 100,000 units and sold 80,000 units. The absorption costing income statement for this year follows. Income Statement (Absorption Costing) Sales (80,000 units x $50 per unit) Cost of goods sold Gross profit Selling and administrative expenses Income $ 4,000,000 2,400,000 1,600,000 530,000 $ 1,070,000 Additional Information a. Selling and administrative expenses consist of $350,000 in annual fixed expenses and $2.25 per unit in variable selling and administrative expenses. b. The company's product cost of $30 per unit consists of the following. Direct materials Direct labor Variable overhead Fixed overhead ($900,000 / 100,000 units) $ 5 per unit $ 14 per unit $ 2 per unit $ 9 per unit Required: Prepare an income statement for the company under variable costing. Required: Prepare an income statement for the company under variable costing. Answer is not complete. TREZ Company Income Statement (Variable Costing) Sales $ 4,000,000 Less: Variable expenses Variable cost of goods sold Variable selling and administrative expenses $ 2,400,000 X Contribution margin Less: Fixed expenses Fixed overhead Fixed selling and administrative costs $ 350,000 X 180,000 Income

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