Nelter Corporation, which has only one product, has provided the following data concerning its most recent month of operations. 350 490 Selling price $ 117 Units in beginning inventory Units produced 6,520 Units sold 6,380 Units in ending inventory Variable costs per unit: Direct materials $ 43 Direct labor $ 23 Variable manufacturing overhead $ 2 Variable selling and administrative expense $ 18 Fixed costs: Fixed manufacturing over head $ 123,880 Fixed selling and administrative expense $ 63, 800 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. 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 Variable expenses Variable cost of goods sold Variable selling and administrative expenses $ 762,840 Contribution loss Fixed expenses Fixed manufacturing overhead Fixed selling and administrative expenses 0 762,840 Net operating income 0 762,840 Required A Required B Prepare an income statement for the month using absorption costing. Absorption Costing Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income 0