21 Calculator On January 1 of the current year, Townsend Co. commenced operations. It operated its plant at 100% of capacity during January. The following data summarized the results for January: Production Sales (518 per unit) Inventory, January 31 Units 50,000 (42,000) 8,000 Manufacturing costs: Variable Fixed $575, doo 80,000 Total $655,000 Selling and administrative expenses: Variable Fixed $35,000 10,500 $45,500 Total a. Prepare an income statement using absorption costing Townsend Co. Previous Next > a. Prepare an income statement using absorption costing. Townsend Co. Absorption Costing Income Statement For the Month Ended January 31 Cost of goods sold: Operating income b. Prepare an income statement using variable costing, Townsend Co. Variable Costing Income Statement For the Month Ended January 31 Variable cost of goods sold: All work saved. Calculator Operating income b. Prepare an income statement using variable costing. Townsend Co. Variable Costing Income Statement For the Month Ended January 31 Variable cost of goods sold: Fixed costs: Operating income All work saved