UBS Ltd began operations on 1 January, and achieved the following results for the year. 24000 units $30 per unit Sales Selling Price Manufacturing costs: Direct materials Direct labour Variable overhead Fixed manufacturing overhead Selling and administrative costs: Variable Fixed Production $8 per unit $4 per unit $6 per unit $200,000 $2 per unit sold $20,000 25000 units Required: 1. Prepare an absorption costing income statement for UBS Ltd. [Answer and show workings here]