Hammondsport Manufacturing manufactures a single product that it will sell for During its first year of operations, the company plans to manufacture 26,000 units $82 per unit. The company is looking to project its operating income for its first two and anticipates selling 16,000 of those units. During the second year of its years of operations. Cost information for the single unit of its product is as follows: operations, the company plans to manufacture 26,000 units and anticipates selling (Click the icon to view the data.) 27,000 units (it has units in beginning inventory for the second year from its first year of operations) Read the requirements. Requirement 1. Prepare an absorption costing income statement for (a) the first year of operations and (b) the second year of operations. Hammondsport Manufacturing Income Statement (Absorption Costing) More Info (a) Year 1 - X Sales revenue Less: Cost of goods sold Gross profit Direct material per unit produced $36 Direct labor cost per unit produced $8 Variable manufacturing overhead (MOH) per unit produced $10 Variable operating expenses per unit sold $6 . Fixed manufacturing overhead (MOH) for each year is $234,000, while fixed operating expenses for each year will be $90,000. Less: Fixed operating expenses Operating income Print Done