Question 3 Asian Windows manufactures a hand-painted bamboo window shade for standard-size windows. Production and sales data for 2020 are as follows: Variable manufacturing costs $41 per shade Fixed manufacturing costs $117,700 Variable selling and administrative expenses $9 per shade Fixed selling and administrative expenses $251,000 Selling price $93 per shade Units produced 10,700 shades Units sold 8,460 shades Prepare an income statement using absorption costing. ASIAN WINDOWS Income Statement For the Year Ended December 31, 2020 Absorption Costing Sales 786780 Less Cost of goods sold 439920 Gross profit 346860 Less Selling and administrative expenses 76140 Variable 251000 Fixed 327140 19720 Net income PRINTER ASIAN WINDOWS Income Statement Variable Costing