Part 1 of 5 Hardwick Manufacturing manufactures a single product that it will sell for $77 per unit. The company is looking to project its operating income for its first two years of operations. Cost information for the single unit of its product is as follows: View the data. During its first year of operations, the company plans to manufacture 23,000 units and anticipates selling 15,000 of those units. During the second year of its operations, the company plans to manufacture 23,000 units and anticipates selling 30,000 units (it has units in beginning inventory for the second year from its first year of operations). Read the requirements. Sales revenue Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Requirement 1. Prepare an absorption costing income statement for (a) the first year of operations and (b) the second year of operations. Hardwick Manufacturing Income Statement (Absorption Costing) (a) Year 1 Points: 0:2 of 1 Data . . Direct material per unit produced $33 Direct labor cost per unit produced $9 . Variable manufacturing overhead (MOH) per unit produced $4 Variable operating expenses per unit sold $2 . Fixed manufacturing overhead (MOH) for each year is $299,000, while fixed operating expenses for each year will be $82,000. Print Done -X Activate Windows 4