Absorption and Variable Costing Income Statements tor &inpr... A" e " During the first month of operations ended July 31, YoSan Inc. manufactured 8,700 flat panel televisions, of which 8,000 were sold. Operating data for the month are summarized as follows: Sales Manufacturing costs: Direct materials Direct labor $1,120,000 $574,200 174,000 Variable manufacturing cost 147,900 Fixed manufacturing cost 69,600 965,700 Selling and administrative expenses: Variable $88,000 Fixed 40,500 128,500. Required: 1. Prepare an income statement based on the absorption costing concept. YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 Line Item Description Cost of goods sold: Check My Work Amount Amount Previous Next agenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator &inpr... A Cost of goods sold: 0000 2. Prepare an income statement based on the variable costing concept. YoSan Inc. Variable Costing Income Statement For the Month Ended July 31 Line Item Description Variable cost of goods sold: Check My Work Amount Amount Previous Next ED x + 19 PM C