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 August:

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 ol Sales (14,000 units) Production costs (18,000 units): ing data summarize the results or August $2,240,000 $1,065,600 Direct labor Variable factory overhead Fixed factory overhead 511,200 255,600 171,000 2,003,400 Selling and administrative expenses: Variable selling and administrative expenses $310,500 120,200 430,700 If required, round interim per-unit calculations to the nearest cent