* Ster 21) eBook Absorption Costing Income Statement on June 30, the end of the first month of operations, Tudor Manufacturing Co prepared the following income statement, based on the variable costing concept: Sales (100,000 units) $1,000,000 Variable cost of goods sold Variable cost of goods manufactured (120,000 units X $7 per unit) $340,000 Less ending inventory (20,000 units x 57 per unit) 140,000 Variable cost of goods sold 700,000 Manufacturing margin $300,000 Variable selling and administrative expenses 10,000 contribution margin $290,000 Fixed cost Foxed manufacturing costs 548,000 Fixed selling and administrative expenses 18,000 66,000 Income from operations $224,000 a. Prepare an absorption costing income statement in your computations, round unit costs to two decinal places and round that answers to the nearest dolan Tudor Manufacturing Co. Income Statement-Absorption Costing For the Month Ended June 30 Sales Cost of goods sold Cost of goods manufactured For the Month Ende June 30 Sales Cost of goods sold: Cost of goods manufactured Less ending inventory Cost of goods sold Gross profit Selling and administrative expenses Income from operations Feedback Check My Work a. Review the absorption costing income statement. b. Reconcile the variable costing income from operations of $224,000 with the absorption costing income from operations determined in (a). Reconciliation of Variable and Absorption Costing Income Variable costing income from operations Absorption costing income from operations Difference Pr