Absorption and Variable Costing Income Statements During the first month of operations ended July 31, Yosan Inc. manufactured 9,800 flat panel televisions, of which 9,200 were sold. Operating data for the month are summarized as follows: Sales Manufacturing costs: Direct materials Direct labor Variable manufacturing cost Fixed manufacturing cost Selling and administrative expenses: Variable Fixed Required: Line Item Description Sales - V Cost of goods sold: $803,600 245,000 205,800 107,800 Cost of goods manufactured Komotard TRETE $128,800 59,200 $1,610,000 1,362,200 1. Prepare an income statergent based on the absorption costing concept. YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 188,000 Amount Amount 1. Prepare an income statement based on the absorption costing concept. YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 Line Item Description Sales -V Cost of goods sold: Cost of goods manufactured Inventory, July 31 Total cost of goods sold Gross profit Selling and administrative expenses Operating income Amount Amount 2. Prepare an income statement based on the variable costing concept. YoSan Inc. Variable Costing Income Statement For the Month Ended July 31 Line Item Description Sales Variable cost of goods sold: Variable cost of goods manufactured Inventory, July 31 Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs V Fixed selling and administrative expenses Total fixed costs Operating income Amount Amount 0000 00