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Chicago Screen Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January February, and March 2017 are as follows: (Click to view the data) The selling price per unit is $3,700. The budgeted level of production used to calculate the budgeted foed manufacturing cost per unit is 1,400 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 - X Data Table Requirement 1. Prepare income statements fear Chicago Screen in January, February, and March 2017 under (a) variable cresting and (b) absorption casting (a). Prepare income statements for Chicago Screen in January, February, and March of 2017 under variable cosling. Complete the top half of the income statement for each month first, then complete the bottom portion (Complete all answer boxes. Enter a "V" for any zero baland January 2017 February 2017 March 2017 January February March Unit data Beginning inventory Production 0 100 1.375 100 1,425 1,400 1,300 1,375 1,456 s 650 S 650 Sales Variable costs: Manufacturing cost per unit produced Operating (marketing) cost per unit sold Fixed costs: Manufacturing costs Operating (marketing) costs 650 $ 750 $ S S 750 S 750 490,000 $ 490,000 $ 490,000 S S 110,000 $ 110,000 S 110,000 X Requirements Print Print Done 1. Prepare income statements for Chicago Screen in January, February, and March 2017 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. Choose from any list or enter any nur