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Required information [The following information applies to the questions displayed below Cool Sky reports the following costing data on its product for its first year

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Required information [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 46,000 units and sold 38,000 units at a price of $120 per unit Manufacturing costs 48 Direct materials per unit Direct labor per unit Variable overhead per unt Fixed overhead for the year 18 5 460,08e 16 Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per yean $1129, sume the company uses variable costing. Prepare its income statement for the year under variable costing COOL SKY Variable Costing Income Statement Net income (loss)

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