Income Statements under Absorption Costing and Variable Costing Gallotin County Motors Inc, assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during tr first month. The following data summarize the results for July: Sales (18,500 units) $1,850,000 Production costs (24,000 units): Direct materials $888,000 Direct labor 427,200 Variable factory overhead 213,600 Fixed factory overhead 141,600 1,670,400 Selling and administrative expenses: Variable selling and administrative expenses 1 $258,900 Fixed selling and administrative expenses 100,200 359,100 It required, round interim per-unit calculations to the nearest cent. a. Prepare an income statement according to the absorption costing concept Gallatin County Motors Inc. Absorption Costing Income Statement For the Month Ended July 31 Previous Next > Check My Work all Learest cent. a. Prepare an income statement according to the absorption costing concept Gallatin County Motors Inc, Absorption Costing Income Statement For the Month Ended July 31 b. Prepare an income statement according to the variable costing concept Gallatin County Motors Inc. Variable Costing Income Statement For the Month Ended July 31 Pro Non) MW