Question 1 Net templete Marked out of 5.00 P eque Variable and Absorption Costing Service Company Lawn RX, Inc. prepares a variable costing income statement for internal management and an absorption costing income statement for its bank. Lawn RX provides a quarterly Lawn care service that is sold for $140. The variable and fixed cost data are as follows Direct labor Overhead Variable cost per unit Fixed cost annual Marketing eral and ad v e Varico per rice cortom During 2019, 10,000 service contracts were signed and 900 service contracts were completed. Lawn Rox had no service contracts at the beginning of the year a. Calculate reported income for management. Do not use negative signs with any answers Absorption Cesting income statement b. Calculate reported income for the bank Do not use negatives with an answers Variable Costi come statement b. Calculate reported income for the bank. Do not use negative signs with any answers. Variable Costing Income Statement Sales Cost of Goods Sold: Beginning Inventory Variable Costs Contribution margin Variable cost of goods sold Contribution margin X Gross profit Fixed costs Overhead cost Administrative Expense Total Fixed Cost Net Income Check You have correctly selected 4 Partially correct Marks for this submission: 0.74/5.00 Save Answers