hot operations, Rhys Company prepared the following income statement based on the absorption costing concept thys Company Income Statement Absorption Costing For the Month Ended July 31, 2016 54.253.500,00 Sales (94,000 units) 2 Cost of goods sold Cost of goods manufactured Lessending inventory (22,000 units) Cost of goods sold B 8 SI Grosso 888 282.000.00 150. nstructions $2,784,000.00 528,000.00 Cost of goods manufactured * Less ending inventory (22,000 units) 5 Cost of goods sold 6 Gross profit 7 Selling and administrative expenses Income from operations 2,256,000.00 $1,997,500.00 282,000.00 $1,715,500.00 Required: A Prepare a variable costing income statement, assuming that the fored manufacturing costs were $139,200 and the variable selling and administrative expenses were $112, 800. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Less" or "Plus" and colons will automatically appear if it is required in your computations, round unit costs to two decimal places and round final answers to the nearest dollar B. Reconcile the absorption costing income from operations of $1,715,500 with the variable costing income from operations determined in (A)