eBook Show Me How Office 365 Print Item 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 (222,000 units) during the first month, creating an ending inventory of 23,000 units. During February, the company produced 199,000 units during the month but sold 222,000 units at $580 per unit. The February manufacturing costs and selling and administrative expenses were as follows: Number of Unit Total Units Cost Cost Manufacturing costs in February 1 beginning inventory: Variable 23,000 Fixed 23,000 32.00 $290.00 $6,670,000 736,000 Total $322.00 $7,406,000 Manufacturing costs in February: Variable: 199,000 $290.00 $57,710,000 Fixed 199,000 36.90 7,343,100 $326.90 $65,053,100 Total Selling and administrative expenses in February: Variable 222,000 222,000 2.00 Fixed 26.60 24.60 $5,461,200 444,000 $5,905,200 Total This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Check My Work Previous Next >