Summarized data for Walrus Co. for its first year of operations are: $5,000,000 Sales (100,000 units) Production Costs (120,000 units): Direct Material 1,680,000 Direct Labor 1,500,000 Manufacturing Overhead: Variable 840,000 300,000 Fixed Selling and Administrative Expenses: Variable 250,000 Fixed 430,000 A. Prepare an income statement under absorption costing. Walrus Co. Absorption Costing Income Statement Cost of Goods Sold: Walrus Co. Absorption Costing Income Statement Cost of Goods Sold: B. Prepare an income statement under variable costing. Walrus Co. Variable Costing Income Statement Variable Cost of Goods Sold: Check My Work B. Prepare an income statement under variable costing. Walrus Co. Variable Costing Income Statement Variable Cost of Goods Sold: Fixed Expenses