Violins- by-Hannah produces student-grade violins for beginning violin students. The company produced 2,000 violins in its first month of operations. At the end of the month, 600 finished violins remained unsold. There was no inventory in work in process. Violins were sold for S112SO each. Total costs from the month are as follows: irect materials used irect Labor ariable Manufacturing Overhead ixed Manufacturing Overhead ariable Selling and Administrative expenses ixed Selling and Administrative Expenses 580,000 sso,ooo 530,000 540,000 510,000 SIS,ooo The company prepares the absorption costing income statement for bankers, but would also like to prepare a contribution margin income statement for their own use. Prepare both types of income statements.