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Need help with fill ins Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this

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Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows 35 per unit 55 per unit Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed Selling and administrative costs for the year Variable Fixed Production and sales for the year! Units produced Units sold Sales price per unit $ 20 per unit $8,880,000 per year) $750,000 $4.750,000 110,000 units 80.000 units 360 per unit 5 1. Prepare an income statement for the yea Variable 2. Prepare an income statement for the year using absorption costing Prepare an income statement for the year using variable costing. $ 28,800,000 SIMS COMPANY Variable Costing Income Statement Sales Less: Variable costs Direct materials $ 2,800,000 Direct labor 4,400,000 Variable overhead costs 1,600,000 Variable selling and administrative expenses 750,000 9,550,000 Total variable costs Contribution margin Less: Fixed expenses Fixed overhead costs Fixed selling and administrative costs Net income (loss) Prepare an income statement for the year using absorption costing. SIMS COMPANY Absorption Costing Income Statement Net income (loss)

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