Income Statements underAbsorptionandVariable Costing

Shawnee Motors Inc. assembles and sells MP3 players. The company began operations on August 1 and operated at 100% of capacity during the first month. The following data summarize the results for August:

Sales (15,500 units) $1,550,000

Production costs (20,000 units):

Direct materials $740,000

Direct labor 356,000

Variable factory overhead 178,000

Fixed factory overhead 118,000 1,392,000

Selling and administrative expenses:

Variable selling and administrative expenses $215,800

Fixed selling and administrative expenses 83,500 299,300

If required, round interim per-unit calculations to the nearest cent.

Shawnee Motors Inc.

Absorption Costing Income Statement

For the Month Ended August 31

Sales $1,550,000

Cost of goods sold _________________

Gross Profit ________________

Selling and Administrative expenses ___________________

Income from operations ______________________

I can't get the cost of goods sold, gross profit, selling and administrative expenses & income from operations.

I was able to get the following data:

Direct materials per unit $47.74

Direct labor per unit $22.96

Variable factory overhead per unit $11.48

Fixed factory overhead $7.61