Chicago Screen Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2017 are as follows: The selling price per unit is $2,200. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,100 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Read the requirements. (Click to view the data.) Requirement 1. Prepare income statements for Chicago Screen in January, February, and March 2017 under (a) variable costing and (b) absorption costing. (a). Prepare income statements for Chicago Screen in January, February, and March of 2017 under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all answer boxes. Enter a "0" for any zero balance accounts.) January 2017 February 2017 March 2017 MI LI X Data Table January February March Unit data: Beginning inventory 0 100 100 Production 1,100 1,050 1,120 Sales 1,000 1,050 1,130 i X Requirements Variable costs: $ 750 $ 750 $ 750 Manufacturing cost per unit produced Operating (marketing) cost per unit sold $ 725 $ 725 $ 725 Fixed costs: Choose from any list or enter a 1. Prepare income statements for Chicago Screen in January, February, and March 2017 under (a) variable costing and (b) absorption costing. 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing. $ 440,000 $ 440,000 $ 440,000 8 parts remaining Manufacturing costs Operating (marketing) costs VII $ 160,000 $ 160,000 $ 160,000