fill 8 blanks!

FILLL OUT 13 blanks!

blank options for 3

(1) absorption, variable

(2) variable, absorption

(3) variable, fixed

(4) absorption, varibale

During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 50,000 mini refrigerators, of which 44,000 were sold Operating data for the month are summarized as follows: Sales 39.240,000.00 Manufacturing costs 1 Direct materials $3,500,000.00 1 1.200,000.00 Direct labor Variable manufacturing cost Fixed manufacturing cost Selling and administrative penses Variable 850,000.00 600.000.00 6,150,000.00 3572.000.00 357,000.00 Fixed 92400000 Required: 1. Prepare an income statement based on the absorption costing concept 2. Prepare an income statement based on the variable conting concept 3. Explain the reason for the dierence in the amount of operating income reported in (1) and (2) "Be sure to complete the statement heading Hefer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choloes for text entries. A colon (ww.utomatically appear is required Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example Nerloss should be negative August 31 Cost of goods sold Fixed costs For the Month Ended August 31 Variable cost of goods sold 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 Total variable cost of goods sold Variable cost of goods manufactured Variable selling and administrative expenses 1. Prepare an income statement based on the absorption costing concept. Be sure to complete the statement heading, Hofer to the ist of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon) will automatically appear if it is required. Enter amounts as positive numbers unless the amount is a criculation that results in a negative amount. For example: Notfoss should be negative. Kodiak Fridgeration Company Absorption Costing Income Statement Labad 1 2 label $ 4 6 2. Prepare an income statement based on the variable costing concept. Be sure to complete the statement heading, Peter to the lot of Labels and Amount Desconations provided for the exact wording of the answer choices for text entries. A cobon (wie automatically appear 14 is required. Enter amounts as postive numbers crees the amount is calculation that results In a negative amount. For example: Not loss should be negativn. Kodak Federation Company Variable Costing Income Statement Label + Label . 10 11 12 11 3. Explain the reason for the difference in the amount of operating income reported in () and (2) The Operating Income reported under costs that are deferred to a future month under costing exceeds the Operating income reported under costing V costing due to manufacturing