Maps Saved Help Save & Exit Submi Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales information for thi year follows $ $ 30 per unit 50 per unit Manufacturing costs Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit $2,100,000 $8,400,000 $ 700,000 $4,250,000 105,000 units 75,000 units 350 per unit $ 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. 3. Under what circumstance(s) is reported income identical under both absorption costing and variable costing? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Saved Help Save & Prepare an income statement for the year using variable costing. SIMS COMPANY Variable Costing Income Statement Net income (loss) ps 72 6252F%25 uTube Maps Saved Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an income statement for the year using absorption costing. SIMS COMPANY Absorption Costing Income Statement Net income (Inse) Saved Help 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. 3. Under what circumstance(s) is reported income identical under both absorption costing and variable cc Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Under what circumstance(s) is reported income identical under both absorption costing and variable costing? Reported income identical under both