Fresno Industries Inc manufactures and sells high quality camping tents The company began operations on January 1 and operated at 100 of capac 150 000 units during the first month creating an ending inventory of 20 000 units During February the company produced 130 000 units during the month but sold 150 000 units at 500 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 Fixed Total Selling and administrative expenses in February Variable Fixed ESIKA Total Sales Cost of goods sold Beginning inventory Cost of goods manufactured Total cost of goods sold Number of Units Operating income 20 000 275 00 20 000 26 00 301 00 Unit Cost 130 000 275 00 130 000 Gross profit Selling and administrative expenses Operating income a 30 00 150 000 20 00 150 000 1 30 Sales Variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs Fixed manufacturing costs V Fixed selling and administrative expenses Total fixed costs 305 00 Fresno Industries Inc Absorption Costing Income Statement For the Month Ended February 28 Total Cost 5 500 000 520 000 6 020 000 35 750 000 3 900 000 39 650 000 3 000 000 195 000 21 30 3 195 000 b Prepare an income statement according to the variable costing concept for the month ending February 28 Fresno Industries Inc Variable Costing Income Statement For the Month Ended February 28 00