EX 6-3 Help Save & Exit Submit Check my work Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019 its cost and sales information for this year follows $ $ 35 per unit 55 per unit Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit $ 38 per unit $7,700,000 per year) $ 75e,eee $5,000, eee 110,eee units se, eee units 35e per unit 5 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. Prev 1 of 1 Next earch O BI 44 1 Prepare an income statement for the year using variable costing. ats SIMS COMPANY Variable Costing Income Statement Sales Less: Variable costs Direct materials Direct labor Variable overhead costs Variable selling and administrative expenses eBook Hint Ask ferences Total variable costs Contribution margin Less: Fixed expenses Fixed overhead costs Fixed selling and administrative costs Sales Net income (loss) Prev 1 of 1 Next SIMS COMPANY Absorption Costing Income Statement Sales | Less: Cost of goods sold Direct materials Direct labor Variable overhead costs Fixed overhead costs Cost of goods sold Gross margin Selling general and administrative expenses Fixed selling and administrative costs Variable selling and administrative expenses Variable overhead costs Net income (loss)