Points of 20 The annual data that follow pertain to El's Electric Eyewear, a manufacturer of swimming goggles. (Els Electric Eyeweat had no begeeing Finished Goods Inventory in January) Click the icon to view the data) Read the requirements Requirement 1. Prepare both conventional (absorption costing and contribution margin (variable conting) Income statements for ons Electric Eyewear for the year ended Oecum nearest cent) Begin by preparing Ell's Electric Eyewear's conventional (absorption conting) income statement for the year ended December 31 Data Table Ell's Electric Eyewear Income Statement (Absorption Costing) Number of goggles produced Year Ended December 31 Number of goggles sold Sales price per unit Variable manufacturing cost per Sales commission cost per Fixed manufacturing overad Fikud selling and administrative Operating Income ectric Eyewear for the year ended December 31 (Round intermediary calculations to Data Table x Number of goggles produced Number of goggles sold 160.000 120.000 5 30 12 Sales price per unit Variable manufacturing cost per unit Sales commission cost per unit Fixed manufacturing overhead Fixed selling and administrative costs 2000 VW000 Chapter M Contribution Margin ic Eyewear, a Cost of Goods Sold | Fixed Costs | Gross Profit orption costing Net Sales Revenue entional (absor 1 Selling and Administrative Costs ing) Variable Costs