Income Statements under Absorption and Variable Costing Shawnee Motors Inc assembles and sells MP3 players. The company began operations on August 1 and operated at 100% of capacity during the first month. The following data summarize the results for Augusti Sales (17,500 units) $2,100,000 Production costs (23,000 units) Direct materials $1,021,200 Direct labor 489,900 Variable factory Iverhead 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 115,200 112,900 If required, round interim per unit calculations to the nearest cent a. Prepare an income statement according to the absorption costing concept Shawnee Motors Inc. Absorption Costing Income Statement For the Month Ended August 31 a. Prepare an income statement according to the absorption costing concept. Shawnee Motors Inc. Absorption Costing Income Statement For the Month Ended August 31