Module 6 Assignment Show Me How Calculator Print Item Thcome Statemente under A rtion and anabe Costing Shawnee Motors Inc assembles and sells MP3 players. The company began operations on August 1 and operated at 100% of capacity during the first month. The following data summarize the results for August Sales (20,000 units $2,000,000 Production costs 25.000 unit Direct materials Direct labor $962,000 462,800 231,400 153,400 Variable factory overhead Fixed factory overhead 1,809,600 Selling and administrative expenses Variable selling and administrative expenses $280,500 108,600 Fixed selling and administrative expenses 389,100 It required, round te per unit calculations to the nearest cent. a. Prepare an income statement according to the absorption costing concept. Shawnee Motors Inc Absorption Costing Income Statement For the Month Ended August 31 $ 2.000.000 Cost of goods sold a. Prepare an income statement according to the absorption costing concept. Shawnee Motors Inc. Absorption Costing Income Statement For the Month Ended August 31 Sales 2,000,000 Cost of goods sold Gross profit Selling and administrative expenses 389,100 Income from operations b. Prepare an income statement according to the variable costing concept. Shawnee Motors Inc. Variable Costing Income Statement For the Month Ended August 31 Sales 2,000,000 Variable cost of goods sold 231,400 Manufacturing margin Variable selling and administrative expenses 500 Contribution margin b. Prepare an income statement according to the variable costing concept. Shawnee Motors Inc. Variable Costing Income Statement For the Month Ended August 31 Sales 2,000,000 Variable cost of goods sold 231,400 Manufacturing margin Variable selling and administrative expenses 280,500 Contribution margin Fixed costs: Fixed factory overhead 153,400 Fixed selling and administrative expenses 108,600 Total fixed costs 262,000 Income from operations Feedback