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please. answer as straight forward as possible. I do not need all the extra stuff like explanations or excel spread sheets. Fill out the income

please. answer as straight forward as possible. I do not need all the extra stuff like explanations or excel spread sheets. Fill out the income statements please and thats it. image text in transcribed
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Trez Company began operations this year. During this year, the company produced 100,000 units and sold 80,000 units. The absorption costing income statement for this year follows. Income Statement (Absorption Costing) Sales (80,000 units * $50 per unit) Cont of goods sold Gross profit Selling and administrative expenses $1,110,000 $ 4,000,000 2,400,000 1,500,000 490,000 Income Additional Information a. Selling and administrative expenses consist of $350,000 in annual fixed expenses and $1.75 per unit in variable selling and administrative expenses. b. The company's product cost of $30 per unit consists of the following. Direct materials Direct labor Variable overhead Fixed overhead ($900,000 / 100,000 units) $ 4 per unit $ 14 per unit $ 3 per unit $9 per unit Required: Prepare an income statement for the company under variable costing. TREZ Company Income Statement (Variablo Costing) Dowell Company produces a single product. Its income statements under absorption costing for its first two years of operation follow. Income Statementa (Absorption costing) Year1 Year 2 Sales (646 per unit) $ 920,000 $ 1,840,000 Cost of goods sold (531 per unit) 620.000 1,240,000 Gross profit 300,000 600,000 Selling and administrative expenses 170,000 220,000 Income $ 130,000 $380.000 Additional Information a. Sales and production data for these first two years follow. Unite Units produced Units sold YOR 30,000 20,000 Year 2 30.000 40.000 b. Variable costs per unit and fixed costs per year are unchanged during these years. The company's $31 per unit product cost using absorption costing consists of the following 55 Direct materials Direct labor Variable overhead Taxed overhead ($200,000/30,000 units) total product cont pe unit 10 531 c. Selling and administrative expenses consist of the following. Selling and Administrative Expenses Year 1 Year 2 Variable selling and administrative (52.50 per unit sola $50,000 $ 100,000 Fixed selling and administrative 120,000 120,000 Total $ 170,000 $ 220,000 Required: Prepare income statements for each of these two years under variable costing. (Loss amounts should be entered with a minus sign.) DOWELL Company Income Statements (Variable Costing) Year 1 Year 2 Sales Less: Variable ex ses Income (Loss)

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