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Instructions During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 40,000 mini refrigerators, of which 36,000 were sold. Operating data for the month are summarized as follows: 1 Sales 58.280,000.00 ? Manufacturing costs Direct materials $2,800,000.00 1,200,000.00 Direct labor Variable manufacturing cost 800,000.00 440,000.00 5,240,000.00 Fixed manufacturing cost Selling and administrative expenses: Variable $540,000.00 216,000.00 Fixed 756,000.00 Instructions Labels and Amount Descriptions Absorption Costing Income Statement Shaded cells have feedback. 1. Prepare an income statement based on the absorption costing concept. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. A colon () will automatically appear if required. Enter Inventory, August 31 as a negative number using a minus sign. If a net loss is incurred, enter that amount as a negative number using a minus sign Question not attempted. Score: 0/68 Kodiak Fridgeration Company Absorption Costing Income Statement (Label) 2 Label Variable Costing Income Statement 2. Prepare an income statement based on the variable costing concept. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. A colon () will automatically appear if required. Enter Inventory, August 31 as a negative number using a minus sign. If a net loss is incurred, enter that amount as a negative number using a minus sign Question not attempted. Score: 0/102 Kodiak Fridgeration Company Variable Costing Income Statement (Label) Label Variable Losung Income Slalement Kodiak Fridgeration Company Score: 0/102 Variable Costing Income Statement (Label) (Label) 9 (Label)