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 $$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 costs

Variable selling and administrative cost per unit

Fixed selling and administrative cost per year

$\backslash$table$[[$$$,54],[$$$,20],[$$$,6],[$$$,462,000],[$$$,9],[$$$,110,000]]$

$2$b$.$ Assume the company uses variable costing. Prepare its income statement for the year under variable costing.

$\backslash$table$[[,$COOL SKY$],[,$Variable Costing Income Statement$],[$Sales$,],[,],[,],[\frac{?}{\text{b}\text{a}\text{r}}(r),$Z$],[5,],[\frac{?}{\text{b}\text{a}\text{r}}(r),],[5,],[5,],[,T$