Summarized data for Walrus Co. for its first year of operations are: $5,400,000 Sales (90,000 units) Production Costs (108,000 units): Direct Material 1,512,000 1,350,000 Direct Labor Manufacturing Overhead: Variable 756,000 270,000 Fixed Selling and Administrative Expenses: Variable 234,000 396,000 Fixed A. Prepare an income statement under absorption costing. Wirus Co. Absorption Costing Income Statement Sales Cost of Goods Sold Direct Material B. Prepare an income statement under variable costing. Walrus Co. Variable Costing Income Statement Variable Cost of Goods Sold Check My Work Previous Next >