Sims Company, a manufacturer of tablet computers, began operations on January 1, 2015. Its cost and sales information for this year follows $ 40 per unit Overhead costs for the year $3.000.000 $4250 000 Production and sales for the year Se price per unit $ 350 per unit Prepare an income statement for the year using variable costing. SIMS COMPANY Variable Costing Income Statement 2. Prepare an income statement for the year using absorption costing. SIMS COMPANY Absorption Costing Income Statement Net income foss) 2. Prepare an income statement for the year using absorption costing SIMS COMPANY Absorption Costing Income Statement Net income foss) 1. Under what circumstance(s) is reported income identical under both absorption costing and variable costing? O Production is greater than sales and inventory levels decrease Production is less than sales and inventory levels decrease Incomes of absorption costing and variable costing will never be identical O Production is greater than sales and inventory levels increase O Production equals sales and there is no beginning finished goods inventory