Sims Company began operations on January $1.$ Its cost and sales information for this year follow.

Direct materials

Direct labor

Variable overhead

Fixed overhead

Variable selling and administrative expenses

Fixed selling and administrative expenses$$11$ per unitUnits producedUnits soldSales pricePrepare an income statement for the year using variable costing.Prepare an income statement for the year using absorption costing.Complete this question by entering your answers in the tabs below.Required $1$Required $2$Prepare an income statement for the year using variable costing.