b. Prepare a variable costing income statement for the three products. Enter a net loss as a negative number using a minus sign. a. Are management's decision and conclusians correct? Managements decision and conclusion are The profit be improved because the foxed costs used in manutacturing and selling running shoes be avoided if the line is eliminated b. Prepare a variable costing income statement for the three products. Enter a net loss as a negative number using a minus sian. Fleet-of-Foot inc. Variable Costing income Statements--Three Product Lines For the Year Ended December 31 c. Use the report in (b) to defermine the prodtimpact of eliminabng the running shoo ine, assuming no cover chungel. and the sxed costs elimanated Thus, the ptots of trie comparw would actualib of the product by pences. volime, of costs Variable and Absotption Costing-Three Products Fleet-of Foot inc manufactures and sells thee bypes of shoes. The income statements prepared under the absorpton costing method for the three shoes are as follows: In addition, you have defermened the foliowing information with respect to allocoled foved costs inventory may be ignered