Please solve for the incorrect answers:

- (INCORRECT) Manufacturing Overhead

- (INCORRECT) $2880

Variable and Absorption Costing Summarized data for 2016 (the first year of operations) for Gorman Products, Inc., are as follows: Sales (75,000 units) $9,000,000 Production costs (80,000 units) Direct material 2,640,000 Direct labor 2,160,000 Manufacturing overhead: Variable 1,632,000 Fixed 960,000 Operating expenses: Variable 504,000 Fixed 720,000 Depreciation on equipment 180,000 Real estate taxes 54,000 Personal property taxes (inventory & equipment) 86,400 Personnel department expenses 90,000 b. Prepare an income statement based on variable costing. Only use a negative sign with your answer for net income (loss), if the answer represents a net loss. Otherwise, do not use negative signs with any answers. Round answers to the nearest whole number, when applicable. Variable Costing Income Statement Sales $ 9,000,000 Variable cost of Goods Sold: Beginning Inventory $ 0 Direct materials 2,640,000 Direct labor 2,160,000 Manufacturing overhead 1,632,000 Less: Ending Inventory 402,000 Variable cost of goods sold 6,030,000 Variable operating expenses 504,000 Contribution margin 2,466,000 Fixed costs: Manufacturing overhead 960,000 Operating expenses 720,000 Total Fixed Cost 1,680,000 Net Income (Loss) $ 786,000 X C. Assume that you must decide quickly whether to accept a special one-time order for 1,000 units for $90 per unit. Which income statement presents the most relevant data? variable costing Determine the apparent profit or loss on the special order based solely on these data. Use a negative sign with your answer if the special order creates an apparent loss. Round answer to the nearest whole number. $ 2,880 X