and Variable Costing Exercise Check m Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. ts cost and sales information for this yea follows. Manufacturing costs Direct materials 40 per unit 60 per unit head costs for the year $3,000, 000 $7,000, 000 Pixed overhead Selling and?inistrative costs for the 770,000 4.250,000 Variable Produetion and sales for the year Units produced Units sold Sales price pee wnit 100,000 units 70, 000 units 350 per unit 1 Prepare an income statement for the year using variable costing 2. Prepare an income statement for 3. Under what the year using absorption costing s reported income identical under both absorption costing and variable costing? ircumstancels) is reported income Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an income statement for the year using variable costing