Direct materials $ 30 per unit Direct labor $ 50 per unit Variable overhead $ 40 per unit Fixed overhead $ 5,300,000 per year Variable selling and administrative expenses $ 11 per unit Fixed selling and administrative expenses $ 4,750,000 per year Units produced 105,000 units Units sold 75,000 units Sales price $ 350 per unit 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using variable costing. ales $ 26,250,000 ess: Variable expenses Direct labor Direct materials Variable selling and administrative expenses 0 0 1. 2. ._. \"manque-\"'- \"'3'...- \\ar-IuluLIvlll v\" unnuu.' .. u... \"a... an\" gun... ....u....u...u.. .v. u..- 1'\"... "any... Direct materials $ 30 per unit Direct labor $ 50 per unit Variable overhead $ 40 per unit Fixed overhead $ 6,300,000 per year Variable selling and administrative expenses $ 11 per unit Fixed selling and administrative expenses $ 4,750,000 per year Units produced 105,000 units Units sold 75,000 units Sales price $ 350 per unit Prepare an income statement for the year using variable costing. Prepare an income statement for the year using absorption costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2