Absorption and Variable Costing Income Statements for Two Months and Analysis During the first month of operations ended January 31, 2015, Hip and Conscious Clothing Company produced 55,500 designer cowboy hats, of which 51,450 were sold. Operating data for the month are summarized as follows: wrfm12h_ch20_pr20-3a1.gif During February, Hip and Conscious Clothing produced 47,400 designer cowboy hats and sold 51,450 cowboy hats. Operating data for February are summarized as follows: wrfm12h_ch20_pr20-3a2.gif Prepare an income statement for January using the variable costing concept. Enter all amounts as positive numbers.