Absorption and Variable Costing Income Statements During the first month of operations ended July 31, YoSan Inc. manufactured 12,000 flat panel televisions, of which 11,300 were sold. Operating data for the month are summarized as follows: Sales $1,638,500 Manufacturing costs: Direct materials $816,000 Direct labor 240,000 Variable manufacturing cost 204,000 Fixed manufacturing cost 108,000 1,368,000 Selling and administrative expenses: Variable $135,600 Fixed 62,400 198,000 1. Prepare an income statement based on the absorption costing concept. YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 Cost of goods sold: 2. Prepare an income statement based on the variable costing concept. YoSan Inc. Variable Costing Income Statement For the Month Ended July 31 Variable cost of goods sold: