2 Exercise 19-9 Income statement under absorption costing and variable costing LO P1, P2 [The following information applies to the questions displayed below) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38,000 units at a price of $140 per unit Part 2 of 4 20 points manufacturing conta Direct materiale per unit Direct Labor per unit Variable overhead por unit Fixed overhead for the year delling and administrative costa Variable selling and administrative cost per unit Fixed selling and decorative cont per year 60 $ 22 $552,000 boo $ 10 $15,000 Print Exercise 19-9 Part 1b 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing COOL SKY Absorption Costing Income Statement Sales Los Cost of goods sold Direct material Director Vinatie med cost Mixed odhodom 2 Required information 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing COOL SKY Abortion Casting faceme Statement 20 Le Cost of goods Debor Variativa con Federados Net income 2 Exercise 19-9 Income statement under absorption costing and variable costing LO P1, P2 [The following information applies to the questions displayed below) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38,000 units at a price of $140 per unit Part 2 of 4 20 points manufacturing conta Direct materiale per unit Direct Labor per unit Variable overhead por unit Fixed overhead for the year delling and administrative costa Variable selling and administrative cost per unit Fixed selling and decorative cont per year 60 $ 22 $552,000 boo $ 10 $15,000 Print Exercise 19-9 Part 1b 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing COOL SKY Absorption Costing Income Statement Sales Los Cost of goods sold Direct material Director Vinatie med cost Mixed odhodom 2 Required information 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing COOL SKY Abortion Casting faceme Statement 20 Le Cost of goods Debor Variativa con Federados Net income