income statements under Absorption Costing and Variable Costing Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July: Sales (13,500 units) Production costs (,000 units): $1,620,000 Direct materials $754,800 Direct labor Variable factory overhead Fixed factory overhead 362,100 181,900 120,700 1,419,500 Selling and administrative expenses: Variable selling and administrative expenses $220,000 Fixed selling and administrative expenses 85,200 305,200 If required, round interim per-unit calculations to the nearest cent a. Prepare an income statement according to the absorption costing concept Sales Gallatin County Motors Inc. Absorption Costing Income Statement For the Month Ended July 31 Cost of goods sold Chock Mulokses remaininn Previous Next