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Sims Company began operations on January 1. Its cost and sales information for this year follow. Direct materials $ 30 per unit Direct labor $

Sims Company began operations on January 1. Its cost and sales information for this year follow.
Direct materials
$ 30
per unit
Direct labor
$ 50
per unit
Variable overhead
$ 40
per unit
Fixed overhead
$ 6,300,000
per year
Variable selling and administrative expenses
$ 11
per unit
Fixed selling and administrative expenses
$ 4,250,000
per year
Units produced
105,000
units
Units sold
75,000
units
Sales price
$ 360
per unit
2. Prepare an income statement for the year using absorption costing.
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Sims Company began operations on January 1. Its cost and sales information for this year follow. 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. Complete this question by entering your answers in the tabs below. Prepare an income statement for the year using absorption costing

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