Toy Centre Inc. sells Frisbees. In 2020, the company produced 3,033,000 units but sold only 2,500,000 units. The unit selling price was $1.50 per Frisbee. The company had no beginning inventory. Costs and expenses for the year ended December 31, 2020 were as follows: Variable costs per unit: Direct materials $0.47 Direct labour 0.08 0.20 Variable manufacturing overhead Variable selling and administrative expenses 0.24 Annual fixed costs and expenses: $363,960 Manufacturing overhead Selling and administrative expenses 343,000 Prepare an income statement using absorption costing. Toy Centre Inc. Income Statement Absorption Costing $ ta $