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e absorption and variable costing income statements E3-64B Prepar (Learning Objective 7) The annual data that follow pertain to Swim (Swim Clearly has no beginning inventories.) Clearly, a manufacturer of swimming goggles. Sale price. Variable manufacturing expense per unit. Sales commission expense per unit. Fixed manufacturing overhead. Fixed operating expense.. Number of goggles produced. Number of goggles sold.. $ 42 20 1,935,000 265,000 215,000 200,000 .. Requirements 1. Prepare both conventional (absorption costing) and contribution margin (variable cost- ing) income statements for Swim Clearly for the year. 2. Which statement shows the higher operating income? Why? Reconcile the difference between the two statements. 3. Swim Clearly's marketing vice president believes a new sales promotion that costs $145,000 would increase sales to 215,000 goggles. Should the company go ahead with the promotion? Give your reason