The following information pertains to the first year of operation for Crystal Cold Coolers Inc.:
Number of units produced ................... 3,000
Number of units sold ...................... 2,500
Unit sales price ........................ $350
Direct materials per unit .................... 80
Direct labor per unit ...................... 60
Variable manufacturing overhead per unit ............. 10
Fixed manufacturing overhead per unit ($225,000 / 3,000 units) ..... 75
Total variable selling expenses ($15 per unit sold) ......... 37,500
Total fixed general and administrative expenses ......... 65,000

Required:
Prepare Crystal Cold’s full absorption costing income statement and variable costing income statement for the year.