Can you fill out the Absoption Costing Income Statement and the Variable Costing Income Statement?

Frigid Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1, 2016, and operated at 100% of capacity during the first month. The following data summarize the results for July: $10,500,000.00 1 Sales (35,000 units) 2 Production costs (41,000 units): 3Direct materials $4,100,000.00 2,255,000.00 1,025,000.00 615,000.00 Direct labor 5 Variable factory overhead 6 Fixed factory overhead 995,000.00 Selling and administrative expenses: 8 Variable seling and administrative expenses 9Fixed selling and administrative expenses 1,140,000.00 225,000.00 1365,000.00 Required: A. Prepare an income statement according to the absorption costing concept.* B. Prepare an income statement according to the variable costing concept. A colon (:) will automatically appear if it is required.* C. What is the reason for the difference in the amount of income from operations reported in (A) and (B)? * Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Enter all amounts as positive numbers