Sims Company, a manufacturer of tablet computers, began operations on January 1, 2015. lts cost and sales information for this year follows. Manufacturing costs 40 per unit Direct materials Direct labor 60 per unit Overhead costs for the year $4,200,000 Variable overhead ixed overhead $6,300,000 Selling and administrative costs for the year 775,000 Variable $4,250,000 ixed Production and sales for the year Units produced 105,000 units Units sold 75,000 units Sales price per unit 360 per unit 1. Prepare an income statement for the year using variable costing SIMS COMPANY Variable Costing Income Statement Sales Less Variable costs Direct materials Direct labor Variable overhead Variable selling and administrative expenses costs Total variab Contribution margin Less: Fixed expenses Fixed selling and administrative costs ixed overhead Net income (loss)