Required information Exercise 19-9 Income statement under absorption costing and variable costing LO P1, P2 The following information applies to the questions displayed below.] Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 44,000 units and sold 36,000 units at a price of $140 per unit. Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year 60 S 528,000 Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year $ 105,000 Exercise 19-9 Part 2b 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing. COOL SKY Variable Costing Income Statement Sales Net income (loss)