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Question 9 Following is selected data for the year ended December 31, 2020 for Fabio Manufacturing Inc. Selling price: $30.30 per unit Units produced 304,200; sold 268,700; beginning inventory zero Variable unit costs: Manufacturing $20.70 (direct materials $10.30, direct labour $6.10, and variable overhead $4.30); Selling and administrative expenses $5.90 Fixed costs: Manufacturing overhead $420,810, based on a budgeted volume of 323,700 units Selling and administrative expenses $552,000 The company expenses production volume variances to cost of goods sold in the accounting period in which they occur. Prepare a normal-costing income statement for 2020. (Round per unit calculations to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 5,275.) Prepare a normal-costing income statement for 2020. (Round per unit calculations to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 5,275.) Fabio Manufacturing Inc. Income Statement For the Year Ended December 31, 2020 Absorption Costing Using Normal Costing Sales tA 4 4Fabio Manufacturing Inc. Income Statement For the Year Ended December 31, 2020 c Absorption Costing Using Normal Costing J Sales Gross Margin Net Income / (Loss) Fixed Costs Variable Costs Cost of Goods Sold Contribution Margin 4} 4 4} Prepare a normal-costing income statement for 2020. (Round per unit calculations to 2 decimal places, e.g. 15.25 and nal answers to 0 decimal places, e.g. 5,275.) Fabio Manufacturing Inc. Income Statement For the Year Ended December 31, 2020 c Absorption Costing Using Normal Costing Sales 4} +0 4} Fixed Manufacturing Overhead Variable Selling and Administrative Expenses Unfavourable Volume Variance Favourable Volume Variance Fixed Selling and Administrative Expenses 4} +8