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blem Set: Module 6 Home DZL 1-2 Problem CengageNOWV2 | Online tea Check My Work C O v2.cengagenow. Assignment/takeAssignmentMain.do?invoker=&takeAssig gnmentSessionLocator=&inprogress=false mySNHU Login . All student discou- ( HBO Max So Brain changed by- Evaluation Tools &. New Tab & Pers a. Under absorption costing, the cost of goods manufactured includes direct materials, direct labor, and He Suicide Crisis: COR E Children as Vul factory overhead costs. Both fixed and variable factory costs are included as part of factory overhead. Problem Set: Module 6 Show Me How 1. EX.07.05.ALGO Income Statements under Absorp on Costing and Variable Costing Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began oper ations on July 1 and operated at 100% of 2. TMM.07.01 The following data summarize the results for July: b. Prepare an income statement according to the variable costing concept. 3. TMM.07.05 Sales (15,000 units) $1,800,000 Gallatin County Motors Inc. Production costs (19,000 units) 4. EX.07.12 ALGO Variable Costing Income Statement Direct materials $843,600 Direct labor 404,700 For the Month Ended July 31 5. EX. 07 02 ALGO Variable factory overhead 203,300 Sales V 1,800,000 Fixed factory overhead 134,900 1,586,500 Selling and administrative exp Variable cost of goods sold Variable selling and admin $245,900 Manufacturing margin Fixed selling and admin 95,20 341,100 Variable selling and administrative expenses If required, round interim per est cent a. Prepare an income stat Contribution margin Gallatin County Motors Inc. Absorption Costing Income Statement Fixed costs: For the Month Ended July 31 Sales 1,800,000 Fixed factory overhead costs cost of goods sold 1,252.500 Fixed selling and administrative expenses Gross profit 547 500 Selling and administrative ex Total fixed costs Operating income Progress: 5/5 items Check My Work Assignment Score: 76,48% All work saved. Email Instructor Save and Ex Feedback Check My Work Previous gnment Score: 76.48% Email Instructor Save and Exit Submit Assignment for Grading