Variable costing income statement Instructions Labels and Amount Descriptions Instructions The following data were adapted from a recent income statement of Procter & Gamble Company: 1 (in millions) 2 Sales $86,218.00 Operating costs: 4 Cost of products sold $43.226.00 5 Marketing, administrative, and other expenses 30.484.00 6 Total operating costs $73.710.00 Income from operations $12.508.00 Assume that the variable amount of each category of operating costs is as follows: 1 (in millions) 2 Cost of products sold $23.790.00 Marketing, administrative, and other expenses 12,205.00 Required: Variable costing income statement Instructions Labels and Amount Descriptions Instructions Variable Costing Income Statement Shaded cells Procter & Gamble Company Score: 0/86 Variable Costing Income Statement (assumed) (in millions) 1 2 3 5 6 Label) Print Item eBook Variable costing income statement Instructions Labels and Amount Descriptions Instructions Variable Costing Income Statement Shaded cells 2 3 4 5 6 Label) 7 + 10 b. If Procter & Gamble reduced its inventories during the period, what impact would that have on the income from operations determined under absorption costing? Income from operations would be the same Income from operations would be lower. Income from operations would be higher Points 1/1