Income Statements under Absorption and Varilable Costing Shawnee Motors Inc. assembles and sells MP3 players. The company began operations on August 1 and operated it 00% or apadty during the n st month the following data summarize the results for August Sales (18,000 units) Production costs (23,000 units) $2,160,000 Direct materials Direct labor Variable factory overhead Fixed factory overhead $1,021,200 489,900 246,100 163,300 1,920,500 Selling and administrative expenses: Variable selling and administrative expenses $297,700 Fixed selling and administrative expenses 15,200 412,900 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 Cost of goods sold Gross seling and administrative expenses Income from operations