Sims Company, a manufacturer of tablet computers, began operations on January 1, 2015. Its cost and sales information for this vear follows Manufacturing costs Direct materials Direct labor Overhead costs for the year 30 per unit 50 per unift Variable overhead $ 2,100,000 $ 8,400,000 Fixed overhead Selling and administrative costs for the year Variable Fixed 750,000 $4,250,000 Production and sales for the vear Units produced Units sold Sales price per unit 105,000 units 75,000 units 350 per unit 1. Prepare an income statement for the year using variable costing SIMS COMPANY Variable Costing Income Statement Sales $26,250,000 ess: Variable costs Direct labor Direct materials Variable overhead Variable seling and administrative expenses otal variable costs Contribution margin ess: Fixed expenses Fixed overhead ixed selling and administrative costs Net income (loss)