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Question Help &EG-40A (similar to) The annual data that follows pertain to Goggles Only, a manufacturer of swimming goggles (the company had no beginning inventory) EEB (Click the icon to view the data.) Requirements 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Goggles Only for the year 2 Which statement shows the higher operating income? Why? . The company marketing vice president believes a new sales promotion that costs $170,000 would increase sales to 235,000 goggles. Should the company go ahead with the promotion? Give your reason. Requirement 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Goggles Only for the year. Begin with the conventional (absorption costing) income statement. Goggles Onhy Income Statement (Absorption Costing) For the Year Ended December 3 les ls Less Less Operating expenses Contribution Margin (Variable Costing) Income Statement For the Year Ended December 31 Less: Less: Requirement 2. Which statement shows the higher operating income? Why? Absorption costing operating income is variable costing operating income. This is because absorption costing of fixed manufacturing overhead as an asset in ending inventory In contrast, variable costing expenses the fixed manufacturing overhead during the year Choose from any list or enter any number in the input fields and then click Check Answer remaining Clear All Final Chec les Only for the year. ples Only for the year 35,000 goggles. Should the company n costi perating Data Table ent belie r reason (abSales price ncome sVariable manufacturing expense per unit ly rption CoFixed 46 hents for Goggles Only for the year. Beg 19 ional $ $ Sales commission expense per unit Number of goggles produced. 235,000 213,000 Print Done number in the input fields and then click Check Answer Clear All Check Answer 6 36,098 MAR