Metlock Products Ltd. has just created a new division to manufacture and sell DVD players. The facility is highly automated and thus has high monthly xed costs, as shown in the following schedule of budgeted monthly costs. This schedule was prepared based on an expected monthly production volume of 2,040 units. Manufacturing costs Variable costs per unit Direct materials $30 Direct labour 40 Variable overhead 8 Total xed overhead 71,400 Selling and administrative costs Variable 4 96 of sales Fixed $43,500 During August 2022. the following activity was recorded: Units produced 2.040 Units sold 1,750 Selling price per unit $185 Prepare an income statement for the month ended August 31, 2022, under absorption costing. METLOCKPRODUCTS LTD. Income StatementAbsorption Costing Month Ended August 31, 2022 3 i s Less 3 2 Cost of goods available for sale 3 Sales 3237500 Inventory. beginning 3 $ 0 Less 3 2 Costsofgoods manufactured 3 159120 Inventory. ending 3 22620 Less 3 3 1. CD 4' 1' +9 Prepare an income statement for the month ended August 31, 2022, under variable costing. METLOCKPRODUCTS LTD. Income StatementVariable Costing Ch 1 A A V V A ' $ A A V V A V A A V V 1' 'D 15 1D 1. 4b VI Reconcile the absorption-costing and variablecosting income gures for the month. Income under variable costing $ Fixed costs deferred in inventory Income under absorption costing $ ' METLOCKPRODUCTS LTD. Income Statement-Throughput Costing to $Reconcile the variable-costing income and throughput-costing income figures for the month. Variable costing net income to Costs deferred in ending inventory Throughput costing net income $