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Amazing Screen Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2020 are as follows: (Click to view the data.) The selling price per unit is $3,600. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,000 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Read the requirements. Requirement 1. Prepare income statements for Amazing Screen in January, February, and March 2020 under (a) variable costing and (b) absorption costing. (a). Prepare income statements for Amazing Screen in January, February, and March of 2020 under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion (Complete all input fields. Enter a "0" for any zero balance accounts.) January 2020 February 2020 March 2020 Revenues Variable cost of goods sold: Beginning inventory Variable manufacturing costs Cost of goods available for sale Deduct ending inventory Variable cost of goods sold II Variable operating costs Contribution margin III X Data Table January February March Unit data: 0 150 150 1,000 925 1,050 850 925 1,055 Beginning inventory Production Sales Variable costs: Manufacturing cost per unit produced Operating (marketing) cost per unit sold Fixed costs: Manufacturing costs Operating (marketing) costs $ 850 $ 850 850 $ 500 $ $ 500 500 $ 390,000 $ 390,000 390,000 $ 190,000 $ $ 190,000 $ 190,000 Requirements 1. Prepare income statements for Amazing Screen in January, February, and March 2020 under (a) variable costing and (b) absorption costing. 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing