Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 44,000 units and sold 36,000 units at a price of $130 per unit. Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative costa Variable selling and administrative cost per unit Fixed selling and administrativo cont per year $ 54 S 20 $ 6 $484,000 $ 11 $105,000 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing. $ 4,680,000 COOL SKY Variable Costing Income Statement Sales LOSS: Variable costs Variable product costs Variable selling and administrative expenses Total variable costs Contribution margin Less: Fixed expenses Fixed overhead costs Fixed selling and administrative costs 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing. Answer is not complete. COOL SKY Variable Costing Income Statement Sales 4,680,000 Less: Variable costs Variable product costs Variable selling and administrative expenses 2,880,000 396,000 Total variable costs Contribution margin Less: Fixed expenses Fixed overhead costs Fixed selling and administrative costs 3,276,000 + OOO 484.000 105,000 Total fixed expenses Net income (los) 589.000 $ 815.000