Required information Skip to question [The following information applies to the questions displayed below.] Cool Sky reports the following for its first year of operations. The company produced 42,000 units and sold 34,000 units at a price of $150 per unit. Direct materials $ 66 per unit Direct labor $ 25 per unit Variable overhead $ 9 per unit Fixed overhead $ 546,000 per year Variable selling and administrative expenses $ 10 per unit Fixed selling and administrative expenses $ 110,000 per year 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing.