Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $7.80 $3.59 $6.03 $4.06 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $244,400 $218,504 Siren Company sells the fishing lures for $26.00. During 2020, the company sold 80,000 lures and produced 94,000 lures. Prepare a variable costing income statement for 2020. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45). SIREN COMPANY Income Statement For the Quarter Ended December 31, 2020 Variable Costing Sales LA 208000 Variable Cost of Goods Sold LA 1393600 Variable Selling and Administrative Expenses 324800 1718400 Contribution Margin 218504 Net Income/(Loss) $ 101304 eTextbook and Media Save for Later Last saved 16 hours ago Attempts: 0 of 1 used Submit Answer osredule will be no subwilden ibo duo dole