Required information [The following information applies to the questions displayed below.) Cool Sky reports the followin

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Required Information The Following Information Applies To The Questions Displayed Below Cool Sky Reports The Followin 1 (26.93 KiB) Viewed 34 times

Required information [The following information applies to the questions displayed below.) Cool Sky reports the following for its first year of operations. The company produced 44,000 units and sold 36,000 units at a price of $140 per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses Income Statement (Absorption Costing) $ 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing. 0 $ 60 per unit $ 22 per unit 0 $ 8 per unit $ 528,000 per year $ 11 per unit $ 105,000 per year