On July 31, the end of the first month of operations, Rhys Company prepared the following income statement, based on the absorption costing concept: a. Prepare a variable costing income statement, assuming that the fixed manufacturing costs were $44,000 and the variable selling and administrative expenses were 531,000 , In your computations, round unit costs to two decimal places and round final answers to the nearest dollar. Feedoack 7 Clesex My Wor. a. Review the variable costing income statement. b. Reconcile the absorption costing income from operations of $395,500 with the variable costing income from operations determined in (a). Reconciliation of Absorption and Variable Costing Income b. Reconcile the absorption costing income from operations of $395,500 with the variable costing income from operations determined in (a). Reconciliation of Absorption and Variable Costing Income