please answer

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 2017. Its cost and sales information for this year follows 5 $ 35 per unit 55 per unit 32,100, $8,400,00 Manufacturing costs Direct materials Direct labor Overhead costs for the year Variable overhead Vixed overhead Selling and administrative costs for the year Variable Fixed Rradaction and sales for the year Units produced Units sold Salex price per unit $ 75,00 $4,250, 205,00 units 75,00 units 25 per unit 5 1. Prepare an income statement for the year using variable costing 2. Prepare an income statement for the year using absorption costing 3. Under what circumstance(s) is reported income identical under botn absorption costing and variable costing Complete this question by entering your answers in the tabs below. Required: Required 2 Required Prepare an income statement for the year using variable coating SIMS COMPANY Variable Costing Income Statement Salas 225.000 Less: Cost of goods sold Orectas Director Variable overhead Variable seling naaministrative expenses 5 2076000 5.775.000 2.100.000 750.000 12.300.000 favarat Contribution margin Lasse axes Fedeling and trave costs Fixed overhead Net noon Red> Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales information for this year follows 3 35 per unit 55 per unit $2,100,000 $8,400,000 Manufacturing costs Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Selling and adsinistrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit $750,000 $6,750,000 105,000 units 75,000 units 350 per unit 1. Prepare an income statement for the year using variable costing 2. Prepare an income statement for the year using absorption costing: 3. Under what circumstance(s) is reported income identical under both absorption costing and variable costing Complete this question by entering your answers in the tabs below. N Required 1 Required 2 Required 3 Prepare an income statement for the year using absorption costing. SIMS COMPANY Absorption Costing Income Statement Netcomes 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, 2017. Its cost and sales information for this yea follows 25 per unit 55 per unit Manufacturing costs Direct materials Direct labor Overhead costs for the year variable overhead Fixed overhead Selling and administrative costs for the year Variable 32,100,000 38,400,000 Fixed $750,000 $4,750,000 Production and sales for the year Units produced Units sold Salos price per unit 105,000 units 75,000 units 350 par unit 1. Prepare an income statement for the year using variable costing, 2. Prepare an income statement for the year using absorption cosung. 3. Under what circumstance(s) is reported income identical under both absorption costing and variable costing? Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 Under what circumstance() is reported income identical under both absorption conting and variable costing? Reported income identical under both