Absorption and Variable Costing Income Statements During the first month of operations ended July 31, YoSan Inc. manufactured 9,000 flat panel televisions, of which 8,300 were sold. Operating data for the month are summarized as follows: Sales Manufacturing costs: Direct materials Direct labor $1,369,500 $702,000 207,000 Variable manufacturing cost 180,000 Fixed manufacturing cost 90,000 1,179,000 Selling and administrative expenses: Variable $107,900 Fixed 49,600 157,500 Required: 1. Prepare an income statement based on the absorption costing concept. YoSan Inc. Absorption Costing. Income Statement. For the Month Ended July 31 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