Trez Company began operations this year. During this year, the company produced 100,000 units and sold 80,000 units. The absorption costing Income statement for this year follows Incora statement (Abortion conting Sales (10,000 units 550 per unit) cost of goods sold Gross profit Selling and administrative expenses Income $ 4,000,000 2.400.000 1.600.000 530,000 8 1.070.000 Additional Information a. Selling and administrative expenses consist of $350,000 in annual fixed expenses and $2.25 per unit in varlable selling and b. The company's product cost of $30 per unit consists of the following administrative expenses Direct materials Direct labor Variable overhead Fixed overhead ($900,000 7 100,000 units) $5 per unit 3 14 per unit $2 per unit 8 9 per unit Required: Prepare an income statement for the company under variable costing Fixed overhead (5900,000 7 100,000 units) 2 per unit $ 9 por unit Required: Prepare an Income statement for the company under variable costing. Answer is not complete. TREZ Company Income Statement (Variable Costing) Sales 4,000,000 Less: Variable expenses Contribution margin Income Print $ 4,000,000 References TREZ Company Income Statement (Variable Coating) Sales Less: Variable expenses Cost of goods sold Fixed overhead Fixed selling and administrat costs Sales Variable cost of goods sold Variable rolling and administrative avance Income