Hi. Using the above information I would appreciate if you could please create a variable costing income statement in the format as in the picture above. So please create using titles available in the screenshot and the exact boxes as available in the screenshot.

I would also appreciate if you could do the same for absorption costing income statement as well.

Feel free to reach out for any further clarification.

Cheers and Thank You,

Splish Company produces plastic that is used for injection-moulding applications such as gears for small motors. In 2022, the first year of operations, Splish Company produced 4,300 tonnes of plastic and sold 2,795 tonnes. In 2023, the production and sales results were exactly reversed. In each year, the selling price per tonne was $2,000; variable manufacturing costs were 14% of the sales price for the units produced; variable selling expenses were 10% of the selling price of the units sold; fixed manufacturing costs were $2,795,000; and fixed administrative expenses were $541,800. Income Statement variable Costing For the Years Ended December 31 2022 2023 Number of units manufactured 4,300 2.795 Number of units sold 2,795 4,300 $ $ Variable cost of goods sold Variable selling and administrative costs Total variable costs Contribution margin Net income Costs of goods manufactured Cost of goods available for sale Fixed selling and administrative costs Fixed costs Variable costs Inventory, ending Inventory, beginning Sales Total fixed costs $ $