cool sky reports the following costing data on its product

mework Soved Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the compa produced 42,000 units and sold 34,000 units at a price of $140 per unit. Manufacturing costs Direct materials per unit Direct Labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year $504,000 $ 11 $120, 900 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing. COOL SKY Absorption Costing Income Statement : Cost of goods so Required information [The following information applies to the questions displayed below! Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 42.000 units and sold 34,000 units at a price of $140 per unit Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year 5504.000 $120, be 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing. COOL SKY Variable Costing Income Statement $ 4.700.000