Trez Company began operations this year. During this first year, the company produced 100.000 units and sold 80.000 units. The absorption costing income statement for this year follows. 54,000.00 Sales (0,000 its $10 per wit) Cost of goods sold Beginventory Cost of goods manufactured (10.000 its per i Cost of goods available for sale Ending inventory (20,000 310) cost of goods sold Gross margin Selling and administrative expenses et non 30.000 6000 2.400.00 11.070, Additional Information a. Selling and administrative expenses consist of $350,000 in annual fedeipenses and $2.25 per unit in variable selling and administrative expenses b. The company's product cost of $30 per unit is computed as follows Direct materials Direct labor Variable overhead Five overhead (5900.000 100.000 nits) st 114 t 52 perit Sport Required: 1. Prepare an income statement for the company under verlable conting 2. Fill in the blanks Complete this question by entering your answers in the tabs below Preds Red 2 Prepare an income statement for the company under variatie costing TREZ Company Valable Costing Income statement Required > Required: 1. Prepare an income statement for the company under variable conting 2 Fill in the blanks Complete this question by entering your answers in the tabs below. Required Required 2 Fin the blanks un The dotar difference in variatie costing income and abrorpion conting income Read overhead per unit