Click to watch the Tell Me More Leaming Objective 1 video and then answer the questions below. 1. Both fixed and variable factory costs are included as a part of factory overhead when accounting for absorption costing. 2. Both fixed and variable factory costs are included as a part of factory overhead when acoointing for variable costing. 3. When units manufactured are less than the number of units sold, the variable costing operating income will be that of absofption costing. a. less than b. greater than c. equal to d. None of the above Variabe Costing income statement On April 30, the end of the first month of operations, Joplin Company prepared the following income staternent, based on the absorption costing concept: If the fixed manufacturing costs were $36,960 and the fixed selling and administrative expenses were $15,630, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. If the fixed manufacturing costs were $36,960 and the fixed selling and administrative expenses were $15,630, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. Click to watch the Tell Me More Learning Objective 5 video and then answer the questions below. 1. Which of the following items does a service company not have on its financial statements? a. Expenses b. Long-term debt c. Cost of goods sold d. Sales revenue 2. Common activity bases used by an aitline are the number of and the number of a. airline seats, passengers b. passengers; miles flown c. airline seats; miles flown d. None of the above