EntertainMe Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2020 are as follows: (Click to view the data.) The selling price per unit is $3,300. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,500 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Dand the m Requirement 1. Prepare income statements for EntertainMe in January, February, and March 2020 under (a) variable costing and (b) absorption costing. (a). Prepare income statements for EntertainMe in January, February, and March of 2020 under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all input fields. Enter a "0" for any zero balance accounts.) January 2020 February 2020 March 2020 A Data table Unit data: Beginning inventory Production January February March 0 150 150 1,500 1,400 1,520 1,350 1,400 1,530 Sales Variable costs: Manufacturing cost per unit produced $ 1,000 $ 1,000 $ 1,000 Operating (marketing) cost per unit sold $ 800 $ 800 $ 800 Fixed costs: Manufacturing costs 69 525,000 $525,000 $ 525,000 Data table Unit data: Beginning inventory Production Sales I 0 150 150 1,500 1,400 1,520 1,350 1,400 1,530 Variable costs: Manufacturing cost per unit produced $ 1,000 $ 1,000 $ 1,000 Operating (marketing) cost per unit sold $ 800 $ 800 $ 800 Fixed costs: Manufacturing costs $ 525,000 $525,000 $ 525,000 Operating (marketing) costs $ 130,000 $ 130,000 $ 130,000 Requirements 1. Prepare income statements for EntertainMe in January, February, and March 2020 under (a) variable costing and (b) absorption costing. 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing. Print Done -