"Kemp Clown Company (KCC), a manufacturer of latex theatrical masks, began operations on January 1, 2019. Its cost and sales information for this year follows. Assume KCC uses variable costing to prepare its Income Statement. Determine the net income for the year." Manufacturing costs Direct materials Direct labor $10 per unit $20 per unit Overhead costs $5 per unit $1,000,000 (per year) Variable Fixed Selling and administrative costs for the year Variable $4,350,000 $5,300,000 Fixed Production and sales for the year Units produced Units sold Sales price per unit 400,000 units 390,000 units $65 per unit