Homework: Chapter 6 Homework Score: 0 of 1 pt 5 of 5 (4 complete) HW Scores E6-40A (similar to) The arvual data that follows pertanto Rays, a madacturer of swimming goggles (the company had no beginning inventory (Click the loan to view the data.) Requirements 1. Prepare both conventional (absorption costing and contribution margin (variable cofing) income statements for Rays for the year 2. Which statement shows the higher operating income? Why 3. The company marketing vice president believes a new sales promotion that costs $135,000 would increase sales to 240,000 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 Rays for the year. Begin with the conventional (absorption costing) income statement Raye Data Table - X Income Statement (Absorption Costing) For the Year Ended December 31 Sales revenue Low Cost of goods sold Gross profit Less Operating expenses Operating ince Sales prior Variable manufacturing expense per unit Sales commission expense per unit..... Fored manufacturing overhead..... Foed operating expenses........ Number of goggles produced...... Number of goggles sold 240.000 Print Dore Choose from any list of enter any number in the input fields and then click Check A we