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 (17,500 units) $2,625,000 Production costs (23,000 units): Direct materials $1,276,500 Direct labor 611,800 Variable factory overhead 305,900 Fixed factory overhead 204,700 2,398,900 Selling and administrative expenses: Variable selling and administrative expenses $371,800 Fixed selling and administrative expenses 143,900 515,700 If required, round interim per-unit calculations to the nearest cent