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XYZ Company has been producing and selling 100,000 units per year, and provided the following information: Selling price per unit Direct materials per unit Direct labor per unit Variable overhead per unit Variable selling and administrative per unit Total fixed overhead costs Total fixed selling and administrative $12.50 5.00 3.00 1.00 0.25 $80,000 35,000 A) Prepare an income statement using the contribution approach. B) Prepare an income statement using the absorption approach.

2. (20 pts.) XYZ Company has been producing and selling 100,000 units per year, and provided the following information: Prepare an income statement using the contribution approach. 3) Prepare an income statement using the absorption approach