Revive Me Sports Drink produced 18,800 cases of powdered drink mix and sold 11,000 cases in July. The sales prices was $30.00, variable costs were $11.00 per case, comprising $9.00 for manufacturing costs and $2.00 for selling and administrative expenses. Total fixed costs were $70,200, which were made up of manufacturing costs of $45,500 and selling and administrative cost of $24.700. The company had no beginning Finished Goods Inventory. 1. Prepare the July income statement using absorption costing. Revive Me Sports Drink Income Statement For Month Ending July 31, 20XX Sales Revenue 564000 Cost of Goods Sold Variable Cost of Goods Sold Fixed Cost of Goods Sold ( Gross Profit Selling and Administrative Costs: Variable Selling & Administrative Exp. Fixed Selling & Administrative Exp. Operating Income 2. Prepare the July income statement using variable costing. Revive Me Sports Drink Contribution Margin Income Statement For Month Ending July 31, 20XX Sales Revenue 564000 Variable Costs: Variable Cost of Goods Sold Variable Selling & Administrative Exp. Contribution Margin Fixed Costs: Fixed Cost of Goods Sold Fixed Selling & Administrative Exp. Operating Income