Absorption-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in beginning inventory Units produced 10,000 9,300 Units sold ($47 per unit) Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: $5 Fixed overhead per unit produced Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under absorption costing. 2. Prepare an income statement using absorption costing. Enter amounts as positive numbers. Osterman Company Income Statement under Absorption Costing For the Most Recent Year Sales Less: Cost of goods sold Gross margin Less: Selling and administrative expense Operating income