1. Shawnee Motors Inc. assembles and sells MP3 players. The company began operations on August 1 and operated at 100% of capacity during the first month. The following data summarize the results for August:

   Sales (11,500 units)				$1,380,000
   Production costs (15,000 units):
   Direct materials		$666,000
   Direct labor		319,500
   Variable factory overhead		160,500
   Fixed factory overhead		106,500		1,252,500
   Selling and administrative expenses:
   Variable selling and administrative expenses		$194,100
   Fixed selling and administrative expenses		75,200		269,300

   If required, round interim per-unit calculations to the nearest cent.

1. Prepare an income statement according to the variable costing concept.