Nelter Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $115 310 6,320 6,440 190 $47 $21 $2 $ 14 $132,720 $ 57,960 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. Required: a. Prepare a contribution format income statement for the month using variable costing. b. Prepare an income statement for the month using absorption costing Complete this question by entering your answers in the tabs below. Required A Required B Prepare a contribution format income statement for the month using variable costing. Variable Costing Income Statement Sales $ 740,600 Required A Required B Prepare a contribution format income statement for the month using variable costing. Variable Costing Income Statement Sales Variable expenses: $ 740,600 Variable cost of goods sold $ 450,800 Variable selling and administrative expenses 90,160 199,640 740,600 0 Contribution margin Fixed expenses: Fixed manufacturing overhead 132,720 Fixed selling and administrative expenses 57,960 Net operating income 190.680 (190,680) Required B > Complete this question by entering your answers in the tabs below. Required A Required B Prepare an income statement for the month using absorption costing. Absorption Costing Income Statement Sales $ 740,600 Cost of goods sold 464,600 Gross margin 276,000 90,160 Net operating income 185,840 < Required A Required By