Instructions Income Statement Tudor Manufacturing Co Income Statement- Variable Costing A. Prepare an absorption costing income statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of For the Month Ended June 30, 2016 the answer choices for text entries. "Less" or "Plus" and colons will automatically appear if it is required. In your computations, round Sales (420,000 units) $8.290,000.00 1 unit costs to two decimal places and round final answers to the nearest dollar. Variable cost of goods sold: 2 3Variable cost of goods manufactured (490,000 units $16 per unit) $7,840,000.00 Tudor Manufacturing Co 4Less ending inventory (70,000 units $16 per unit) 1,120,000.00 Income Statement - Absorption Costing Variable cost of qoods sold 6,720,000.00 5 For the Month Ended June 30, 2016 $1,570,000.00 6 Manufacturing margin 1 7Variable selling and administrative expenses 82,000.00 2 Label) 8 Contribution margin $1.488.000.00 9 Fixed costs: 4 Fixed manufacturing costs $137,200.00 10 Fixed selling and administrative expenses 74,000.00 211,200.00 6 12 Income from operations $1,276,800.00 7 8 Required: A. Prepare an absorption costing income statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Less or "Plus and colons will automatically appear if it is required. In your computations, round unit costs to two decimal places and round final answers to the nearest dollar. B. Reconcile the variable costing income from operations of $1,276,800 with the absorption costing income from operations determined in (A). Enter all amounts as positive numbers Reconciliation B. Reconcile the variable costing income from operations of $1,276,800 with the absorption costing income from operations previously determined. Enter all amounts as positive numbers Tudor Manufacturing Co. Income from Operations -Absorption vs. Variable Costing For the Month Ended June 30, 2016 Variable costing income from operations 1 Absorption costing income from operations 2 3Difference