ructions 1 Sales B1.000 units $7.750.000,00 2 Production costs (38.000 units): 3 Direct materials $3.040.000.00 4 Direct labor 1.710.000.00 s Variable factory overhead 950.000.00 6 Fixed factory overhead 570,000.00 6.270.000.00 7 Selling and administrative expenses: $1,120,000.00 s Variable selling and administrative expenses 200,000.00 1,320,000.00 Fixed selling and administrative expenses Required: A. Prepare an income statement according to the absorption costing concept B. Prepare an income statement according to the variable costing concept. A colon will automatically appear it is required. C. What is the reason for the difference in the amount of income from operations reported in (A) and (B)? Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to 3 more Check My Work uses remaining y Work ALwork saved