Absorption and Variable Casting Income Statements During the first month of operations ended July 31, Yo San Inc. manufactured 10,800 flat panel televisions, of which 10,200 were sold. Operating data for the month are summarized as follows: Sales $1,785,000 Manufacturing costs: Direct materials $885,600 Direct labor 270,000 Variable manufacturing cost 226,800 Fixed manufacturing cost 118,800 1,501,200 Selling and administrative expenses: Variable $142,800 Fixed 65,700 208,500 Required: 1. Prepare an income statement based on the absorption costing concept. YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 Sales Cost of goods sold