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Crane Equipment Company manufactures and distributes industrial air compressors. The following data are available for the year ended December 31, 2022. The company had no beginning inventory. In 2022, it produced 1,420 units but sold only 1,160 units. The unit selling price was $4,510. Costs and expenses were as follows: $ 780 1,390 220 Variable costs per unit Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative expenses Annual fixed costs and expenses Fixed manufacturing overhead Selling and administrative expenses 65 $1,194,100 100,400 (a) Your answer is correct. Calculate the manufacturing cost of one unit of product using variable costing. Manufacturing cost $ 2390 per unit e Textbook and Media Attempts: 1 (b) Prepare a 2022 income statement for Crane Company using variable costing. CRANEEQUIPMENT COMPANY Income Statement December 31, 2022 For the Month Ended December 31, 2022 For the Year-Ended December 31, 2022 $ $ (b) Prepare a 2022 income statement for Crane Company using van CRANEEQUIPME Income Sta Variable Variable costs Sales Total fixed costs Fixed manufacturing overhead Variable selling and administrative expenses Variable costs of goods manufactured Fixed costs Variable costs of goods available for sale Fixed selling and administrative expenses Contribution margin Variable cost of goods sold Operating income before tax Total variable costs CRANEEQUIPMENT COMPANY Income Statement For the Year-Ended December 31, 2022 Variable Costing Sales 5231600 Less : Variable costs of goods available for sale $