During the most recent year, Osterman Company had the following data: Units in beginning inventory Units produced 10,350 Units sold ($45 per unit) 9,100 Variable costs per unit: Direct materials $10 Direct labor $5 Variable overhead $2 Fixed costs: Fixed overhead per unit produced $6 Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under absorption costing. 2. Prepare an income statement using absorption costing. Refer to the list below for the exact wording of an amount description within your income statement. Amount Descriptions Contribution margin Cost of goods sold Gross margin Operating income Operating loss Sales Selling and administrative expenses COGS and Income Statement Shaded cells have 1. Calculate the cost of goods sold under absorption costing. The cost of goods sold under the absorption costing method is $ Points: 011 2. Prepare an income statement using absorption costing. Refer to the list of Amount Descriptions for the exact wording of text items within your income statement. Osterman Company Score: 25/51 Absorption-Costing Income Statement For the Most Recent Year 1 Sales 2 Less: Cost of goods sold 3 Gross margin 4 5 Operating income