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The annual data that follows pertain to Swim Clearly, a manufacturer of swimming goggles (the company had no beginning inventory) B (Click the loon to view the data) Requirements 1. Propare both conventional (absorption costing) and contribution margin (variable costing) income statoments for Swim Cleartly for the year 2. Which statement shows the higher operating income? Why 3. The company markating vice president believes a new sales promotion that conts $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 cosing) and contibuion margin (varlable costing) ncome statoments for Swim Clearty for the yoar Begin with the coniventional (absorption costing) income statement Swim Clearly Income Statement (Absorption Costing) For the Year Ended December 31 Less: incor Less: Operating expenses Requirement 2. Which statement shows the higher operating income? Why? Absorption costing operating income is defers $ ariable 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