uring 2022, Sunland Corp. produced 37,200 units and sold 37,200 for $16.00 per unit. Variable manufacturing costs were $6.00 per hit. Annual fixed manufacturing overhead was $74,400 ($2.00 per unit). Variable selling and administrative costs were $2.00 per unit old, and fixed selling and administrative expenses were $18,600. Suppose the accountant for Sunland Corp. uses normal-absorption osting and uses the budgeted volume of 46,500 units to allocate the fixed overhead rather than the actual production volume of 7,200 units. The company expenses production volume variance to cost of goods sold in the accounting period in which it occurs. Prepare a normal-absorption-costing income statement for the first year of operation. SunlandCorp. Income Statement-Normal-Absorption Costing For the Year Ended December 31, 2022 Sales Cost of goods sold Costs of goods manufactured Add : Volume variance Cost of goods sold $ 282720 1223.68 313703.68 EA $ 595200