QUESTION 5 "Numero Uno Company reports the following information for the current year (see table), which is its first year of operations. Assume Numero Uno uses variable costing to prepare its Income Statement. Determine the net income for the year." Direct materials $12 per unit Direct labor $15 per unit Variable factory overhead $ 3 per unit Fixed factory overhead $300,000 per year Variable Sales and Admin $ 2 per unit Fixed Sales and Admin $100,000 per year Units produced this year 30,000 units Units sold this year 28,000 units Ending finished goods inventory in units 2,000 units Unit price of Sales $50 per unit