a$.$ Prepare an income statement according to the absorption costing concept for the month ending February $28.$

Fresno Industries Inc.

Absorption Costing Income Statement

For the Month Ended February $28$

b$.$ Prepare an income statement according to the variable costing concept for the month ending February $28.$

Fresno Industries Inc.

Variable Costing Income Statement

For the Month Ended February $28$Income Statements under Absorption Costing and Variable Costing

Fresno Industries Inc. manufactures and sells high$-$quality camping tents. The company began operations on January $1$ and operated at $100\%$ of capacity $(70,400$ units$)$ during the first month, creating an ending inventory of $6,400$ units. During February, the company produced $64,000$ units during the month but sold $70,400$ units at $$80$ per unit. The February manufacturing costs and selling and administrative expenses were as follows: