If required, round interim per-unit calculations to the nearest cent. a. Prepare an income statement according to the absorption costing concept. Feecback rowk winet a. Under absorption costing, the cost of goods manufactured includes direct materials, direct labor, and factory overhead costs. Both fixed and variable factory costs are included as part of factory overhead. Learning Objective 1. b. Prepare an income statement according to the variable costing concept. Feedback q chena M, alet b. Under variable costing, the cost of goods manulactured includes only variable manufacturing costs. Leaming Objective 1. If required, round interim per-unit calculations to the nearest cent. a. Prepare an income statement according to the absorption costing concept. Feecback rowk winet a. Under absorption costing, the cost of goods manufactured includes direct materials, direct labor, and factory overhead costs. Both fixed and variable factory costs are included as part of factory overhead. Learning Objective 1. b. Prepare an income statement according to the variable costing concept. Feedback q chena M, alet b. Under variable costing, the cost of goods manulactured includes only variable manufacturing costs. Leaming Objective 1