Asian Windows manufactures a hand-painted bamboo window shade for standard-size windows. Production and sales data for 2020 are as follows: $40 per shade $103,000 $9 per shade Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Selling price Units produced $250,000 $90 per shade 10,300 shades Units sold 8,500 shades ASIAN WINDOWS Income Statement For the Year Ended December 31, 2020 Absorption Costing $ 765,000 Sales 340,000 Less Cost of goods sold 425,000 Gross proft Less: Selling and administrative expenses - Variable $ 250.000 i Fixed Net Income