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Required information [The following information applies to the questions displayed below) Cool Sky reports the following for its first year of operations. The company produced 44,000 units and sold 36,000 units at a price of $150 per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses $ 66 per unit $ 25 per unit 59 per unit $ 572,000 per year $ 11 per unit $ 105,000 per year 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing Income Statement (Variable Costing) Income