Safari File Edit View History Bookmarks Window Help 2 Q Mon Feb 7 6:23 PM

Safari File Edit View History Bookmarks Window Help v2.cengagenow.com Mon Feb 7 6:23 PM 00 oo CengageNOWv2 1 Online teaching and learning resource from Cengage Learning Course Hero Problem Set: Module 6 6. EX.07.02.ALGO 2. EX.07.12.ALGO 3. TMM.07.01 4. TMM.07.05 5. EX.07.05.ALGO Progress: 1/5 items Assignment Score: 68.97% eBook Show Me How Income Statements under Absorption Costing and Variable Costing Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July: Sales (13,500 units) Production costs (17,000 units): Direct materials Direct labor Variable factory overhead Fixed factory overhead Selling and administrative expenses: Variable selling and administrative expenses Fixed selling and administrative expenses $629,000 302,600 151,300 100,300 $183,400 71,000 254,400 If required, round interim per-unit calculations to the nearest cent. a. Prepare an income statement according to the absorption costing concept. Gallatin County Motors Inc. Absorption Costing Income Statement For the Month Ended July 31 Gross profit Selling and administrative expenses Check My Work All work saved. Email Instructor Save and Exit Next) Submit Assignment for Grading