Prepare an income statement for last year using absorption costing.

1. MountainAir Company has the following selected data for the past year: Units sold during year 30,000 Units produced during year 45,000 Units in ending inventory 15,000 Variable manufacturing cost per unit $4.50 Fixed manufacturing overhead (in total) $20,250 Selling price per unit $12.00 Variable selling and administrative expense per unit $1.00 Fixed selling and administrative expenses (in total) $4,000 There were no units in beginning inventory. Required: 1a. Prepare an income statement for last year using absorption costing.

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