Need a little help I just want to make sure I'm doing the right steps. Please answer asap

25.On January 1 of the current year, Townsend Co. commenced operations. It operated its plant at 100% of capacity during January. The following data summarized the results for January: Production Sales ($18 per unit) Inventory, January 31 Units 50,000 42,000 8,000 Manufacturing costs: Variable Fixed Total $575,000 80,000 $655,000 Selling and administrative expenses: Variable Fixed Total $ 35,000 10,500 $ 45,500 (a) (b) Prepare an income statement using absorption costing. Prepare an income statement using variable costing