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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 $ 38 per unit 57,700,000 (per year) $ 800,000 $4,750,000 110.000 units 80,000 units 350 per unit 5 1. Prepare an income statement for the year using variable costing 2. Prepare an income statement for the year using absorption costing 3 Required 1 Required 2 Prepare an income statement for the year using variable costing. SIMS COMPANY 0.83 points Variable Costing Income Statement $ 28,000,000 Sales Less: Variable costs eBook Direct materials Hint $ 2,800,000 4,400,000 Print Direct labor Variable overhead costs Variable selling and administrative expenses References 800.000 10,310.000 Total variable costs Contribution margin Thess: Fixed expenses Fixed selling and administrative costs Fixed overhead costs Net income (105) Required 2 > Chapter 19 Exercise 3 Required 1 Required 2 Prepare an income statement for the year using absorption costing, 0.83 points SIMS COMPANY Absorption Costing Income Statement eBook Hint Print References Net income (los)