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Haas Company manufactures and sells one product. The following information pertains to each of the...

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Accounting

Haas Company manufactures and sells one product. The following information pertains to each of the companys first three years of operations:
Variable cost per unit:
Manufacturing:
Direct materials $ 25
Direct labour $ 12
Variable manufacturing overhead $ 4
Variable selling and administrative $ 2
Fixed costs per year:
Fixed manufacturing overhead $ 480,000
Fixed selling and administrative expenses $ 360,000
During its first year of operations, Haas produced 60,000 units and sold 60,000 units. During its second year of operations, it produced 75,000 units and sold 50,000 units. In its third year, Haas produced 40,000 units and sold 65,000 units. The selling price of the companys product is $57 per unit.b. Prepare an income statement for year 1, year 2, and year 3.(Round your intermediate calculations to 2 decimal places.)
Answer is complete but not entirely correct.
Haas Company
Absorption Costing Income Statement
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