newor The annual data that follows pertain to See It, a manufacturer of swimming goggles (the company had no beginning inventory} (Click the icon to view the data) Requirements 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) Income statements for See It 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 $140,000 would increase sales to 210,000 goggles Should the company go ahead with the promotion? Give your reason af 20) Requirement 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for See it for the year Begin with the conventional (absorption costing) income statement Data Table See It Income Statement (Absorption Costing) For the Year Ended December 31 Sales revenue Less: Cost of goods sold Gross profit . Less Operating expenses Operating income 5 Sales price Variable manufacturing expense per unit Sales commission expense per unit Fixed manufacturing overhead. Fixed operating expenses Number of goggles produced.... Number of goggles sold NG 200 52.310,000 S 235,000 210,000 190.000 Print Done Choose from any ist or enter any number in the input fields and then click Check Check Answer 5 parts Clear All