Following is selected data for the year ended December 31, 2020 for Fabio Manufacturing Inc. Selling price: $30.00 per unit Units produced 310,200; sold 274,400; beginning inventory zero Variable unit costs: Manufacturing $20.60 (direct materials $10.30, direct labour $6.10, and variable overhead $4.20); Selling and administrative expenses $3.70 Fixed costs: Manufacturing overhead $489,000, based on a budgeted volume of 326,000 units Selling and administrative expenses $241,600 The company expenses production volume variances to cost of goods sold in the accounting period in which they occur. Prepare an income statement using throughput-costing for 2020. Fabio Manufacturing Inc. Income Statement For the Year Ended De Throughput Costing