The EG Company produces and sells one product. The following data refer to the year just completed:

Beginning inventory.......................... 0 Units Produced.................................. 25,000 Units sold........................................... 20,000 Sales price per unit............................ $400 Selling & Admin Expenses: Variable per unit................................ $15 Fixed (total)....................................... $275,000 Manufacturing Costs: Direct materials cost per unit.............. $200 Direct labor cost per unit................... $50 Variable manufacturing cost per unit.. $30 Fixed manufacturing overhead (total)....$300,000

Assume that direct labor is a variable cost.

b. Prepare an income statement for the year using absorption costing.

c. Prepare a contribution format income statement for the year using variable costing.

PLEASE HELP with calculations... I have the answers already...