1) Green Co. provided the following information for the year 20X1:

Units produced and sold	4,400 units
Selling Price	$400/unit
Direct materials	$85/unit
Direct labor	$55/unit
Fixed manufacturing overhead	$130,000/year
Fixed selling and administrative costs	$165,000/year
Variable manufacturing overhead	$40/unit

There are no beginning inventories. Prepare an income statement using the variable costing format. Dont forget the heading

2) Red Company has provided the following data for 20X1:

Units produced and sold	3,000 units
Selling Price	$260/unit
Direct materials	$20/unit
Direct labor	$40/unit
Fixed manufacturing overhead	$120,000/year
Fixed selling and administrative costs	$160,000/year
Variable manufacturing overhead	$35/unit
Variable selling and administrative costs	$25/unit

There are no beginning inventories. Prepare an income statement for the year under absorption costing. Dont forget the heading.