2 The Hame Company manufactures trendy, good-looking, moderately priced umbrellas. The following data are for the year ember 31, 3838 Beginning inventory, January 1, 2020 Finding inventory, December 31, 2020 100,000 50,000 w 2020 Sales 400,000 Selling price $25 per uni Variable manufacturing cost per unit, including direct materials 56 per unit Variable selling & admin, cost per unit sold $2 per unit wild Fixed manufacturing costs $1,625,000 Fixed selling & admin. costs $1,100,000 Required: Assume standard costs per unit are the same for units in beginning inventory and units produced during the year. Also, assume no price, spending, or efficiency varianc Prepare income statement under variable costing for the year ended December 31, 2020. Click Save and Submit to save and submit. Click Save All Answers to save all answers