Turtleton Company Part 1 Turtleton Company produces computer chips for animated toys. Selected sales and expense information for the most recent month, with sales of 12,000 units, is given below. Variable selling & administrative expenses are $6 per unit. Total Sales $2,100,000 Direct Materials 310,000 Gross Profit 850,000 Direct Labor 840,000 Variable Manufacturing Overhead 70,000 Fixed Manufacturing Overhead 30,000 Net Income 320,000 Fixed Selling & Administrative Expenses 470,000 Instructions: Using all of the information provided, Prepare a Traditional Income Statement AND Prepare a CVP Income Statement. Break-out each cost as a separate line item and include subtotals. You may not use all lines. Include Unit Costs where appropriate. Hint: Net income should be the same on both statements. Format BIE CVP Income Statement Total Sales Unit Net Income (Traditional) Income Statement Total Sales Net Income