Variable and Absorption Costing-Three Products Winslow Inc. manufactures and sells three types of shoes. The income statements prepared under the absorption costing method for the three shoes are as follows: Winslow Inc. Product Income Statements-Absorption Costing For the Year Ended December 31, 20Y1 Cross Training Shoes Golf Shoes Running Shoes Revenues Cost of goods sold Gross profit Selling and administrative expenses $378,200 $238,300 $200,200 196,700 116,800 134,100 $181,500 $121,500 $66,100 156,100 87,500 110,400 $25,400 $34,000 $(44,300) Income (loss) from operations In addition, you have determined the following information with respect to allocated fixed costs: Fixed costs: Cost of goods sold Selling and administrative expenses Cross Training Shoes Golf Running Shoes Shoes $60,500 $31,000 $28,000 45,400 28,600 28,000 These fixed costs are used to support all three product lines. In addition, you have determined that the inventory is negligible.