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Income Statements under Abtorption and Variable Costing Shawnee Motors Inc. assembles and sells MF3 players. The company began cperations on August 1 and operated at 100% of capacty during the fint month. The following data summarise the results for August: Sales (19,500 units) $3,120,000 Production costs (25,000 units): Direct materials $1,460,000 Direct labor 710,000 Variable factory everhead 355,000 Fixed factory overhese 237,5002,782,500 Seling and administrative expense: Variable selling and administrative expenses $431,300 Foce seling and sdministrative expenses 167,000 598,300 Ur required, round interim per-unit calculations to the nearest cent. a. Prepare an income statement according to the absorption costing concept. Sales 1 cost of oecastiveli v Crossprofit Gelling and adm nistrotive empenses Iocome from operations 1 Variable factory overiead Fixed factory overhead Selling and administrative expenses: Variable seling and administrative expenses Fixed selling and administrative expenses 355,000 237,500 2,792,500 $431,300 167,000 598,300 If required, found interim per-unit calculations to the nearest cent. a. Prepare an income statement according to the absorption costing concept. Gross neofit Lecome from operations ronec uy tud Shawnee Motors Inc. of factfob the Month Ended August 31 Learaing Oepoive 1 Learning Objective 1. b. Prepare an income statement according to the variable costing cancept. Shawnee Motors Inc. Variable Costing Income Statement For the Month Ended August 31 Feaboak T Dear My Won b. Under variatie cosing the cost of goods manulactured indubes enly varietie manufacturing onts. Learning Cejective 1