eBook Show Me How Print item Absorption and Variable Costing Income Statements for Two Months and Analysis During the first month of operations ended July 31, Head Gear Inc, manufactured 26,400 hats, of which 25,100 were sold. Operating data for the month are summarize as follows: Sales $185,740 Manufacturing costs: Direct materials $110.880 Direct labor 29,040 Variable manufacturing cost 13,200 Fixed manufacturing cost 10,560 163,680 Selling and administrative expenses: Variable $10,040 Fixed 7,33 17,370 During August. Head Gear Inc, manufactured 23,800 hats and sold 25,100 hits Operating data for August are summarized as follows: Sales $185,740 Manufacturing costs: Direct materials $99,960 Direct labor 26,180 Variable manufacturing cost 11,900 Fixed manufacture cost 10,560 148,600 Previous Next > Check My Work All work saved. Save and it Submit Assignment for Grading att #8 MakeAsignment/takeAssignmentMain.do?invokerStaknulignmentSessionLocator Binprogrestal Show Me How eBook Print item 11,900 10,560 148,600 Variable manufacturing cost Fixed manufacturing cost Selling and administrative expenses: Variable Fixed $10,040 7,330 17,370 Required: 1a. Prepare income statement for July using the absorption costing concept Head Gear Inc. Absorption Costing Income Statement For the Month Ended July 31 Sales 185,740 Cost of goods sold Cost of goods manufactured 16 3.060 Inventory, July 31 155.620 Total cost of goods sold 30.120 Gross profit Selling and administrative expenses 19,37 12.50 Operating Income Previous Next > Check My Work Save and Submit Assignment for Grad All work saved income statement July using the variable cosung concept Head Gear Inc. Variable Costing Income Statement For the Month Ended July 31 Sales 185,740 153,120 Variable cost of goods sold: Variable cost of goods manufactured Inventory, July 31 Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs 10.560 Fixed selling and administrative expenses 7,330 Total fixed costs 17,890 Operating income Feedback Check My Work Show Me How Print item 25. Prepare Income statement for Augustusing the variable costing concept Head Gear Inc. Variable Costing Income Statement For the Month Ended August 31 Sales 145,740 Variable cost of goods sold: Inventory, August 1 Variable cost of goods manufactured Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin 10,040 Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses 10.560 7.330 Total fixed costs 17.890 Operating income Feedback Previou Check My Work