ACC 202

EX.07.02.ALGO

A. prepare an income statement according to the absorption costing concept.

B. Prepare an income statement according to the variable costing concept.

data located below question as well as drop down boxes.

b. Prepare an income statement according to the variable costing conce Income Statements under Abeorption Costing and Variable Costing Gallatin -County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and cperated at 100% of capacty during the first month. The following dota summarize the results for July: If required, found interim periunt calculations to the nearest cent. a. Prepare an income statement according to the abeorption costing concept. Gallatin County Motors Inc. Absorption Costing Income Statement For the Month Ended July 31 Gallatin County Motors Inc. Variable Costing Income Statement For the Month Ended July 31 Contribution margin Fixed selling and administrative expenses Manufacturing margin Sales Variable selling and administrative expenses Fived mantan: Fixed costs