please help asap, income reporting under absorption and variable costing

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, 2019. Its cost and sales information for this year follows Manufacturing costs Direct materials Direct labor Overhead costs Variable $ 40 per unit 60 per unit Fixed selling and administrative costs for the year $ 40 per unit $6,300,000 (per year) Variable Fixed $ 800,000 $4,000,000 Production and sales for the year Units produced Units sold Sales price per unit 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 * Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using variable costing. SIMS COMPANY Variable Costing Income Statement Sales $ 26,250.000 Less Variable costs Dired materials Direct labor Variable overhead costs Variable selling and administrative expenses OOOOOO 4,200,000 6,300,000 X 4,200,000 $ 800,000 O 15,500,000 10,700,000 $ Contribution margin Less Foxed expenses Fored overhead costs Foed selling and administrative costs OOOO 6,300,000 4,000,000 Total fuced expenses Net income (loss) 10,300,000 $ 400,000 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, 2019. Its cost and sales information for this year follows $ $ 40 per unit 60 per unit Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed selling and administrative costs for the year Variable Production and sales for the year Units produced Undits sold Sales price per unit $ 40 per unit $6,300,000 (per year) $ 800,000 $4,000,000 Fixed 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. & Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using absorption costing. SIMS COMPANY Absorption Costing Income Statement Not income (los)