Winslow Inc. Product Income Statements-Absorption Costing For the Year Ended December 31, 20Y1 Cross Training Shoes Golf Shoes Running Shoes Revenues $324,400 $188,200 $161,900 Cost of goods sold (168,700) (92,200) (108,500) Gross profit $155,700 $96,000 $53,400 Selling and administrative expenses (133,900) (69,100) (89,200) Operating income $21,800 $26,900 $(35,800) In addition, you have determined the following information with respect to allocated fixed costs: Cross Training Shoes Golf Shoes Running Shoes Fixed costs: Cost of goods sold $51,900 $24,500 $22,700 Selling and administrative expenses 38,900 22,700 These fixed costs are used to support all three product lines and will not change with the elimination of any of inventory may be ignored. 22,600 UST Winslow Inc. Variable Costing Income Statements-Three Product Lines For the Year Ended December 31, 20Y1 Cross Training Shoes Golf Shoes Revenues Running Shoes Variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income (loss)