Income statements under absorption and variable costing Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July: Sales (3,000 units) Production costs (3,000 units): Direct materials Direct labor Variable factory overhead Fixed factory overhead Selling and administrative expenses: $2,100,000 $903,000 388,200 63,300 99,300 1,453,800 Variable selling and administrative expenses Fixed selling and administrative expenses $45,100 18,900 64,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions