income statements under absoprtion costing and variable costing

ebook Show Me How Income Statements under Artion Costing and conting Gallatin County Motors Inc, assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100of city during the first month. The following data summarize the results for Joly Sales (17,500 units) $2,100,000 Production costs (23,000 units) Direct materiale 51,021,200 Direct labor 489,900 Variable factory overhand 246,100 Fixed factory overhead 163,300 1.920,500 Selling and administrative expenses Variable selling and administrative expenses $297,700 Fixed selling and administrative expenses 115,200 412,900 If required, round interamper-unit calculations to the nearest cant a. Prepare an income statement according to the absorption costing concept Gallatin County Motors Inc. Absorption Costing Income Statement For the Month Ended July 31 b. Prepare an income statement according to the variable costing concept Previous Next Check My Work more Check My Work uses temaning Email instructor Save and Exit Submit Assignment for Grading All work saved eBook Show Me Pem b. Prepare an income statement according to the variable coming concept Gallatin County Motors Inc Variable Costing Income Statement For the Month Ended July 31 Fixed costs of the fored come What is the reason for the difference in the amount of operating income reported in (a) and (b)? Under the method, the fixed manufacturing cost included in the cost of goods sold is matched with the venues. Under manufacturing cost is deducted in the period in which it is incurred, regardless of the amount of inventory change. Thus, when wentary crises, the statement will have a higher operating income Previous Next Check My Work Smare Check My Westemning Emainstructor Save and Edt Submit Assignment for Grading All work saved