Income Statements under Absorption Costing and Variable Costing Joplin Industries Inc manufactures?nd sells high qualty sporting goods equipment under its highly recognizable J Sports logo. The company began operations on May 1 and operated at 100% of capacity 77,000 units dunng the first month, creating an ending inventory of 7,000 units. Dudng June, the company produced 70,000 garments during the month but sold 77,000 units at?125 per unit. The June manuracturing costs and selling and administrative expenses were as tolows: Number of Units Uriit Cost Tolal Cost Manufacturing costs In June 1 beginning Inventory 7,000 s50.00 50,000 133,000 69.UO $483,000 Fixed 7,000 19.00 Total Manufacturing nstsiri lune: 70,000 S50.00 3,500,000 70,000 20.9 1463,000 S70.50 4,963,000 Fixed Total Seling and adminstrative expenses in June Vanabic 77,000 24.70 $1,901,900 539,0000 31.70 $2,440,900 Fixed 77,000 .00 a. Prepare an income statement according to the absorptien costing concept for June. Jopln Industrles Inc. Absorption Costing Income Statement For the Month Fncled lune3