The Dorset Corporation produces and sells a single product. The following data refer to the yearjust completed: Beginning inventory 0 Units produced 25,500 Units sold 22,300 Selling price per unit $ 484 Selling and administrative expenses: Variable per unit $ 25 Fixed per year $312,200 Manufacturing costs: Direct materials cost per unit $ 237 Direct labor cost per unit $ 50 Variable manufacturing overhead cost per unit $ 31 Fixed manufacturing overhead per year $357,000 Assume that direct labor is a variable cost. Prepare an income statement for the year using variable costing. Variable selling and administrative expenses Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative expenses