On your way to a meeting with the board of directors, your assistant provides you with last month's income statements-one based on the variable costing method and one based on the absorption costing method. Unfortunately, your assistant, who is new, has used absorption costing terminology for both income statements. Income Statement 1 Income Statement 2 Sales $8,734 $8,734 Cost of goods sold $2,988 $4,045 Other expenses 4,146 7,134 3.084 7,129 Net income $1,600 $1,605 (a) Which income statement is based on the variable costing method? Income statement is based on the variable costing method. e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b) Was production equal to, greater than, or less than sales for the month? Production was sales for the month. e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (c) Calculate the amount of fixed overhead for the month. Fixed overhead $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit