Absorption and Variable Costing Income Statements During the first month of operations ended July 31, YoSan Inc. manufactured 11,000 flat panel televisions, of which 10,100 were sold. Operating data for the month are summarized as follows: Sales $1,515,000 Manufacturing costs: Direct materials Direct labor Variable manufacturing cost Fixed manufacturing cost Selling and administrative expenses: Variable Fixed Required: $781,000 231,000 198,000 99,000 1,309,000 $121,200 55,800 177,000 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: 10000 2. Prepare an income statement based on the variable costing conce YoSan Inc. Variable Costing Income Statement For the Month Ended July 31 Variable cost of goods sold: 69 Fixed costs: 69 69