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13 Part 4 of 4 point ebook Hirt Print References Required Information [The following information applies to the questions displayed below] Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 44,000 units and sold 36,000 units at a price of $140 per unit Manufacturing costs S 60 Direct materials per unit Direct labor per unit. Variable overhead per unit $ 22 $ 528,000 Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit 11 Fixed selling and administrative cost per year $ 105,000 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing. COOL SKY Variable Costing Income Statement Sales S 5,040,000 Less: Variable costs Variable selling and administrative expenses Variable product costs Total variable costs 306.000 1.404,000 Contribution margin Less: Foxed expenses Fixed selling and administrative costs Fored overhead costs S 771.000 Net income (loss) 300.000 13 Part 4 of 4 1 pointa Required Information. [The following information applies to the questions displayed below! Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 44,000 units and sold 36.000 units at a price of $140 per unit Manufacturing costs 3 60 Direct materials per unit Direct labor per unit Variable overhead per unit $ 22 $528,000 Fixed overhead for the year Selling and administrative costs S 11 Variable selling and administrative cost per unit Fixed selling and administrative cost per year $105,000 2b. Assume the company uses variable costing. Prepare its income statement for the year under varlable costing Answer is not complete. COOL SKY Variable Costing Income Statement Sales O 56,040.000 Less: Variable costs Vanable selling and administrative expenses Variable product costs Total vanable costs 300.000 1,404,000 Contribution margin Less: Fixed expenses Faxed selling and administrative costs Fixed overhead costs Net income (loss) $771,000 000 O 10 000 0 3 300.000