Absorption and variable costing income statements Instructions Labels and Amount Descriptions Absorption Costing Income Statement Instructions During the first month of operations ended August 31, Kodak Fridgeration Company manufactured 50,000 mini refrigerators, of which 44,000 were sold. Operating data for the month are summarized as follows Sales Manufacturing costs Direct materials Direct labor Variable manufacturing cost $9,240,000.00 $8.500.000.00 1.200.000.00 RS0.000.00 Fixed manufacturing cont 600,000.00 150,000.00 Selling and administrative expenses Variable $572,000.00 Faed $52.000.00 924,000.00 2. Prepare an income statement based on the variable costing concept. Flefer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text antries. Be sure to complete the statement heading. A colon () will automatically appear if required. Enter Inventory, August 31 as a negative number using a minus sign. If a net loss is incumed, enter that amount as a negative number using a minus sign Kodiak Fridgeration Company Variable Costing Income Statement Score: 66/102 For the Month Ended August 31 Sales 2 Variable cost of goods sold: Variable cost of goods manufactured Inventory, August 31 $ Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs $5,550,000.00 $9,240,000.00