During the first month of operations ended August 31, Kodiak fridgeration company manufactured 46,000 mini refrigerators, of which 42,000 were sold. Operating data for the month or summarized as follows. Please see bottom of the picture for instructions.

1 Sales $9,660,000.00 2 Manufacturing costs: 3 Direct materials $3,220,000.00 4 Direct labor 1,380,000.00 5 Variable manufacturing cost 828,000.00 6 Fixed manufacturing cost 506,000.00 5,934,000.00 7 Selling and administrative expenses: 8 Variable $756,000.00 9 Fixed 294,000.00 1,050,000.00 Required: 1. Prepare an income statement based on the absorption costing concept.* 2. Prepare an income statement based on the variable costing concept." Amount Descriptions Contribution margin Contribution margin ratio Cost of goods manufactured Fixed manufacturing costs Fixed selling and administrative expenses Gross profit Operating income Inventory, August 31 Loss from operations Manufacturing margin Planned contribution margin Sales Sales mix Selling and administrative expenses Total cost of goods sold Total fixed costs Total variable cost of goods sold Variable cost of goods manufactured Variable selling and administrative expenses