W E6-40A (similar to) is Question Help The annual data that follows pertain to See It, a manufacturer of swimming goggles (the company had no beginning inventory): (Click the icon to view the data.) Requirements 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) Income statements for See it for the year. 2. Which statement shows the higher operating income? Why? 3. The company marketing vice president believes a new sales promotion that costs $155.000 would increase sales to 230,000 goggles. Should the company go ahead with the promotion? Give your reason. Requirement 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for See it for the year. Begin with the conventional (absorption costing) income statement. i Data Table See It Income Statement (Absorption Costing) For the Year Ended December 31 Less: 45 21 Less: Operating expenses Sales price ..... Variable manufacturing expense per unit ....S Sales commission expense per unit.........S Fixed manufacturing overhead ............. S Fixed operating expenses..................S Number of googles produced .............. Number of goggles sold ............... 2,990,000 250,000 230,000 218,000 Print Done Choose from any list or enter any number in the input fields and then click Check Answer. 5 parts 5 remaining Clear All Check