Bramble's Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2022, the company incurred the following costs:

Variable cost per unit Direct materials $7.00 Direct labour 2.90 Variable manufacturing overhead 5.85 Variable selling and administrative expenses 3.54

Fixed costs for year Fixed manufacturing overhead $401940 Fixed selling and administrative expenses 239700

Bramble's Company sells the fishing lures for $27.00. During 2022, the company produced 95,700 lures and sold 70,400.

Prepare an Absorption-Costing income statement for 2022