eBook Show Me How Income Statements under Absorption Costing and Variable Costing Fresno Industries Inc. manufactures and sells high-quality camping tents. The company began operations on January 1 and operated at 100% of capacity (57,200 units) during the first month, creating an ending inventory of 5,200 units. During February, the company produced 52,000 units during the month but sold 57,200 units at $110 per unit. The February manufacturing costs and selling and administrative expenses were as follows: Manufacturing costs in February 1 beginning inventory: Variable Fixed Total Manufacturing costs in February Variable Number of Units Unit Total Cost Cost 5,200 $44.00 $228,800 5,200 17.00 88,400 $61.00 $317,200 52,000 $44.00 $2,288,000 Fixed Total 52,000 18.70 972,400 $62.70 $3,260,400 Selling and administrative expenses in February 57,200 $22.10 $1,264,120 Variable 57,200 7.00 400,400 Fixed $29.10 $1,664,520 Total a. Prepare an income statement according to the absorption costing concept for the month enging February 28 Torst