Presented below are the major categories or captions that would appear on an income statement prepared in the variable costing format: Contribution margin Fixed costs Income from operations Manufacturing margin Sales Variable cost of goods sold Variable selling and administrative expenses a. Arrange the above captions in the proper order in accordance with the variable costing concept. b. Which of the captions represents: 1. The difference between sales and the total of all the variable costs and expenses. 2. The remaining amount of revenue available for fixed manufacturing costs, fixed expenses, and net income? On October 31, the end of the first month of operations, Morristown & Co. prepared the following income statement based on absorption costing: $117,000 Morristown & Co. Absorption Costing Income Statement For Month Ended October 31, 20-- Sales (2,600 units) Cost of goods sold: Cost of goods manufactured $85,500 Less ending inventory (400 units) 11,400 Cost of goods sold Gross profit Selling and administrative expenses Income from operations 74,100 $42,900 21,500 $21,400 If the fixed manufacturing costs were $42,900 and the variable selling and administrative expenses were $14,600, prepare an income statement using variable costing. Morristown & Co. Variable Costing Income Statement For Month Ended October 31, 20-- Variable cost of goods sold: $ $ Fixed costs: Income from operations The actual price for a product was $53 per unit, while the planned price was $49 per unit. The volume increased by 3,840 to 55,390 total units. Determine the (a) the quantity factor and (b) the price factor for sales. a. Quantity factor b. Price factor decrease increase