Sheridan Organics Products Ltd. manufactures and sells a variety of organic dog foods. Cost and sales data for January 2022, the rst month of operations, are shown below: Manufacturing Costs: Fixed overhead $45,600 Variable overhead $1.60 per bag of dog food Direct labour $3.60 per bag Direct material $5.60 per bag Beginning inventory 0 bags N umber of bags produced 12,000 bags N umber of bags sold 10,000 bags Selling and administrative costs: Fixed $40,000 Variable $3.50 per bag sold Each bag of dog food sells for $28.00. (a) Prepare a January 2022 income statement for Sheridan Organics using variable costing. (Round per unit calculations to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,275.) SheridanOrganics Products Ltd. Income Statement For the Month Ended January 31, 2022 Variable Costing