8:15 PM mybusinesscourse.com Glendale Company sells its product at a unit price of $13.00. Unit manufacturing costs are direct materials, $2.50; direct labor, $3.00; and variable manufacturing overhead, $1.50. Total fixed manufacturing costs are $25,000 per year. Selling and administrative expenses are $1.00 per unit variable and $10,000 per year fixed. Though 25,000 units were produced during 2014, only 22,000 units were sold. There was no beginning inventory There was no beginning inventory (a) Prepare a functional income statement using absorption costing. (Do not use negative signs with your answers.) Glendale Company Functional (Absorption Costing) Income Statement For the year 2014 Sales Cost of goods sold Gross profit Other expenses: Variable selling and administrative Fixed selling and administrative