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 capacy during the first month. The following data summarize the results for August: Sales (10,500 units) $1,050,000 Production costs (14,000 units): Direct materials $518,000 Direct labor 249,200 Variable factory overhead 124.600 Fored factory overhead 82.600 974,400 Selling and administrative expenses Variable selling and administrative expenses 5151.000 Fed selling and administrative expenses Se 500 209 500 required, round interim per unit calculations to the nearest cent Prepare an income statement according to the absorption costing concept Shawn Motors Inc Absorption Costing Income Statement For the Month Ended At 31 O . o 8 8 5 4 5 6 3 P T Y E R w K K L H G F D S M M N B V eBook Show Me How Calculator a. Prepare an income statement according to the absorption costing concept Shawnee Motors Inc. Absorption Costing Income Statement For the Month Ended August 31 . h. Prepare an income statement according to the variable costing concept. Shawnee Motors Inc Variable Costing Income Statement For the Month Ended At 31 + . 9 8 5 4 5 6 2 3 P T R. W E K. L G H S D F N M B V C Z ] Fored costs What is the reason for the difference in the amount of income from operation reported in and under the ethod, the feed manufacturing costinduded in the cost of othed with the revende of the foundaturing cost is deducted in the bened in which it is curred, regardless of the amount of every dage. Thus when wentary ases, the will have the contro con with wale con contenent . 9 o 6 7 8 4 5 3 2 O Y U 1 4 w R E K H G S D N M V 00 Z N HP Laptop Do more from anywhere. All-day long. HONE FOR Reviews Videos Features Specs Support