Income Statements under absorption Costing and variable Costing Galltin 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 Julie Sales (14,000 units) $1,680,000 Production costs (18,000 units); Direct materials 5799.200 Direct labor Variable factory overhead Rxed factory overhead Selling and administrative expenses Variable selling and administrative expenses $233,000 Fixed selling and administrative expenses 383,400 192,600 127,300 1503,000 90,200 323,200 If required around interim per unit calculations to the nearest cent a. Prepare an income statement according to the absorption costing concept. Gallatin County Motors Inc. Absorption Costing Income Statement For the Month Ended July 31 b. Prepare an income statement according to the variable costing concept. Gallatin County Motors Inc. Variable Costing Income Statement For the Month Ended July 31 100 Fixed costs