Question 1 Leigh Company, which has only one product, reported the following results for January: Selling price... S100 Units in beginning inventory Units produced............... Units sold................ Units in ending inventory... 300 1,200 1,400 100 Variable costs per unit: Direct materials ... Direct labor. .. Variable manufacturing overhead.. Variable selling and administrative....... Fixed costs: Fixed manufacturing overhead................. Fixed selling and administrative........... $9,600 $1,400 Cost of goods sold is a variable cost in this company. Normal X2 X2 A = $ . Required: a. Prepare a traditional format income statement for January. b. Prepare a contribution format income statement for January