Income Statements under Absorption Costing and Variable Costing

administrative expenses were as follows:

a$.$ Prepare an income statement according to the absorption costing concept for the month ending February $28.$

Fresno Industries Inc.

Absorption Costing Income Statemen

For the Month Ended February $28$

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b$.$ Prepare an income statement according to the variable costing concept for the month ending February $28$

Fresno Industries Inc.

Variable Costing Income Statement

For the Month Ended February $28$

Fixed costs:

Fixed manufacturing costs $$

Fixed selling and administrative expenses $$

Total fixed costs $$

Operating income $$