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Cool Sky reports the following for its first year of operations. The company produced 46,000...

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Accounting

Cool Sky reports the following for its first year of operations. The company produced 46,000 units and sold 38,000 units at a price of $120 per unit.
Direct materials
Direct labor
Variable overhead
Fixed overhead
Variable selling and administrative expenses
Fixed selling and administrative expenses
$48 per unit
$18 per unit
$6 per unit
$460,000 per year
$11 per unit
$105,000 per year
Exercise 19-3(Algo) Part 2b
2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing.
\table[[,Income Statement (Variable Costing),,-],[,,22,202
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