ity eBook Show Me How orgia Highlands Grades Principles of Accounting II CengageNOWv2 | Onli Absorption and Variable Costing Income Statements During the first month of epilens ended July 31, YoSan Inc. manufactured 11,400 flat panel televisions, of which 10,500 were sold. Operating data for the mom summarized as follows: Sales $1,365,000 Manufacturing costar Direct materials $695,400 Direct labor 205,200 Variable manufacturing cost 182,400 Fixed manufacturing cost 91,200 1,174,200 Selling and administrative expenses: $105,000 48,300 153,300 Variable Fixed Required: 1. Prepare an income statement based on the absorption costing concept. YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 Sales Cost of goods sold: Cost of goods manufactured Inventory, July 1 Total cost of goods sold Gross profit Selling and administrative expenses Operating income Check My Work 1,365,000