Required information Exercise 6-9 Income statement under absorptlon costing and varlable costing LO P1, P2 The following information apples to the questions displayed below) Cool Sky reports the following costing data on Its product for Its first year of operatilons. During this first year, the company produced 46,000 units and sold 38.000 untts at a price of $140 per unit. Manufacturing costs Direct uterials per unit Direct abor per unit Variable overhead per unit Fixed ovethead for the year 60 $22 $552,000 s11 Selling and administrative costs ariable selling and administrative cost per unit Fixed selling and administrative cost per year $ 105,000 Exercise 6-9 Part 1b b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing COOL SKY Absorption Costing Income Statement Sales $ 5.320,000 Less: Cost of goods soid Variable overhead costs 1,280.000 418,000 Variable selling and administrative expenses -2-3-4).of 4 : H Next > Prev