Summarized data for Walrus Co. for its first year of operations are: Sales (110,000 units) $6,600,000 Production Costs (132,000 units): Direct Material 1,980,000 Direct Labor 1,584,000 Manufacturing Overhead: Variable 990,000 Fixed 330,000 Selling and Administrative Expenses: Variable 286,000 Fixed 473,000 A. Prepare an income statement under absorption costing. Walrus Co. Absorption Costing Income Statement Cost of Goods Sold: A. Prepare an income statement under absorption costing. Walrus Co. Absorption Costing Income Statement Cost of Goods Sold: