Asian Windows manufactures a hand-painted bamboo window shade for standard-size windows.
Production and sales data for 2020 are as follows:
Variable manufacturing costs $40 per shade
Fixed manufacturing costs $100,000
Variable selling and administrative expenses $9 per shade
Fixed selling and administrative expenses $250,000
Selling price $90 per shade
Units produced 10,000 shades
Units sold 8500 shades
Prepare an income statement using absorption costing.