DL Chapter 6 Assignment - ACCT-2302 2803 1 Principles.... C CengageNOWv2 | Onl Happy Trails has the following information for its manufacturing: Direct Materials $15 Direct Labor $14 Variable Manufacturing Overhead $3 Fixed Manufacturing Overhead $25 Units Produced 28,000 Units Sold 18,000 Its income statement under absorption costing is: Sales $1,900,000 Beginning Inventory $0 < Cost of Goods Manufactured 1,596,000 Cost of Goods Available for Sale $1,596,000 - Ending Inventory 570,000 Cost of Goods Sold $1,026,000 Gross Profit $874,000 -Sales and Admin. Expenses: Variable $144,000 Fixed 200,000 Total Sales and Admin. Expenses $344,000 All work saved.