Absorption and Variable Costing Income Statements During the first month of operations ended July 31, YoSan Inc. manufactured 12,200 flat panel televisions, of which I1 Sales Manufacturing costs: ,500 were sold. Operating data forthe month are summarized as follows: $1,437,500 Direct materials Direct labor Variable manufacturing cost Fixed manufacturing cost $719,800 219,600 183,000 97,600 1,220,000 Selling and administrative expenses: Variable Fixed Required: $115,000 52,900 167,900 >1. Prepare an income statement based on the absorption costing conc YoSan Inc Absorption Costing Income Statement For the Honth Ended July 31 Sales Cost of goods sold kily 31