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Instructions
The annual data that follow pertain to Swim Clearly, a manufacturer of swimming goggles. (Swim Clearly has no beginning inventories.) Sale price..$42 variable manufacturing expense per unit.20 sales commission expense per unit5 fixed manufacturing overhead.1,935,000 fixed operating expense.265,000 number of goggles produced215,000 Numbers of goggles sold..200,000 Requirements Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Swim Clearly for the year.