XYZ Company, reports the following Total costs at two levels of production Beginning Inventory = 0 Units Ending Inventory = 0 Units Selling Price Per Unit $90 1000 Units 2000 Units Cost Type Manufacturing Cost Period Cost Manufacturing Cost Manufacturing Cost Manufacturing Cost Period Cost Period Cost Costs: Direct Materials Maintenance Direct Labor Indirect Material Depreciation Utilities Rent 20000 8000 17000 1000 4000 3000 6000 40000 10000 34000 2000 4000 5000 6000 Required: Prepare Absorption Income Statement for Production Level of 4000 Units, Given that Beginning Inventory - 0 Units and Ending Inventory - 500 Units Answer Title Total Sales Revenue Cost of Goods Sold Gross Profit (Loss) Selling And Aministrative Expenses Net Operating Income