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: Sales (10,000 units) Production costs (13,000 units): Direct materials Direct labor Variable factory overhead $1,600,000 $769,600 369,200 184,600 123,500 1,446,900 Fixed factory overhead Selling and administrative expenses: Variable selling and administrative expenses $224,300 Fixid selling and administrative expenses 86,800 311,100 If required, round interim per-unit calculations to the nearest cent. a. Prepare an income statement according to the absorption costing concept.