Frankie's Co., a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales information for this year follows 35 per unit $ 55 per unit $3,000,000 $7,000,000 Manufacturing conta Direct materials Direct labor Overhead coats for the year Variable overhead Fixed overhead Selling and administrative costs for the year Variable Yixed Production and sales for the year Units produced Units sold sales price per unit 5 775.000 $4,500,000 100,000 units 70,000 unit 960 per unit 1. Prepare an income statement for the year using variable costing, 2. Prepare an income statement for the year using absorption costing 3. Under what circumstance() is reported income identical under both absorption costing and varioblo costing? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Prepare an Income statement for the year using variable costing, SIMS COMPANY Variable Coating Income Statement 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. 3. Under what circumstance(s) is reported income identical under both absor Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an income statement for the year using variable costing. SIMS COMPANY Variable Costing Income Statement Net income (loss)