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Selling & Administrative Expense: Selling Expense (fixed) $100,000 Administration Expense (fixed) 50,000 Total Selling & Administrative Expense: $150,000 Product Costs (for 2,000 units): Direct Materials $200,000 Direct Labor 160,000 Factory Overhead: Variable $140,000 Fixed 260,000 400,000 Total Product Costs $760,000 There was no Beginning inventory Sales Price per unit $500 For the sale and production of 2,000 units, calculate the following and create the Income Statement. Show your calculations. Total Variable Costs: $ Total Product Cost: S Variable Cost Per Unit: Product Cost Per Unit: $ LBCC Bike Shop Income Statement For the year ended December 31 Sales (2,000 units) Cost of Goods Sold Gross Profit Selling Administration Expense Income From Operations Balance of Ending Inventory (# units * per unit product cost) $Howr do these resulin change if we produce 10,000 units but keeping sales at 2,000 units? For the sale of 2,000 unite and production of 10,000 units, calculate the following and create the Income Statement. Show your calculations. Total 1Variable Costs: 5 Total Product Cost: | 3 Variable Cost Per Unit: S - Product Cost Per Unit: I S LBCC Bike Shop Income Statement For the year ended December 31 Sales (2,000 units] s Cost of Goods Sold Gross Prot 5 Selling Administration Expense Income From Operations $ Balance of Ending Inventory (# unite * per unit product cost] $ Using the same information, now complete a Variable Costing Income Statement for sales of 2,000 and production at both 2,000 units and 10,000 units LBCC Bike Shop Variable Costing Income Statement For the year ended December 31 Production: Production: 10,000 units 2,000 units Sales (2,000 units) S Variable Cost of Goods Sold Manufacturing Margin S Variable Selling Administration Expense 0 0 Contribution Margin $ S Fixed Product Costs Fixed Selling Administration Expense Income From Operations $ $ Balance of Ending Inventory (# units * per unit product cost) S S