Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $ 92 300 5,900 6,000 200 $ 39 $ 19 $ 2 $ 11 $ 88,500 $ 36,000 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. Required: a. Prepare a contribution format Income statement for the month using variable costing. b. Prepare an income statement for the month using absorption costing. Complete this question by entering your answers in the tabs below. Required A Required B Prepare an income statement for the month using absorption costing. Absorption Costing Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income $ 552,000 450,000 102,000 102,000 < Required A Required B > Nelter Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $ 92 300 5,900 6,000 200 $ 39 $ 19 $ 2 $ 11 $ 88,500 $ 36,000 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. Required: a. Prepare a contribution format Income statement for the month using variable costing. b. Prepare an income statement for the month using absorption costing. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a contribution format income statement for the month using variable costing. Variable Costing Income Statement Sales Variable expenses: Variable cost of goods sold Variable selling and administrative expenses Contribution margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative expenses Net operating income $ 552,000 360,000 66,000 426,000 126,000 88,500 36,000 124,500 1,500 Required A Required B >