Following is selected data for the year ended December 31, 2020 for Fabio Manufacturing Inc. Selling price: $30.40 per unit Units produced 311,000; sold 273,500; beginning inventory zero Varlable unit costs: Manufacturing $21.30 (direct materials $10.30, direct labour $6.10, and variable overhead $4.90); Selling and administrative expenses $4.00 Fixed costs: Manufacturing overhead $493,200, based on a budgeted volume of 328,800 units Selling and administrative expenses $245,700 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 put Costing