1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing

Ch 19 Exercise Questions a 3 Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows. 0.33 points Skipped Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sald Sales price per unit 35 per unit 55 per unit $ 2e per unit $8,880,00 (per year) $ 750,000 $4,250,000 1 HO 118,000 units 80,000 units 350 per unit $ 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing PY Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using variable costing, SIMS COMPANY Variable Costing Income Statement Sales Net income (los) Required 1 Required 2 Prepare an income statement for the year using absorption costing, SIMS COMPANY Absorption Costing Income Statement Net Income (ons)