QUESTION 14 "Kemp Clown Company (KCC), a manufacturer of latex theatrical masks, began operations on January 1, 2019. Its cost and sales information for this year follows.Assume KCC uses absorption costing to prepare its Income Statement. Determine the net income for the year." $10 per unit $20 per unit Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed $5 per unit $1,000,000 (per year) Selling and administrative costs for the year Variable $4,350,000 $5,300,000 Fixed Production and sales for the year Units produced 400,000 units 390,000 units Units sold Sales price per unit $65 per unit