Super Products, inc. uses a standard costing system. For June and July the following costs were budgeted and incurred: Manufacturing costs: Variable costs per unit: Direct materials 3 30 Direct labor 3 42 Variable overhead :5 6 Fixed overhead costs: (monthly $300,000 total) Selling &Administrative Costs: Variable costs per unit sold: $22 Fixed (monthly total) 3175.000 The budieted denominator level used to determine the . For July. the following information was available: Inventory July 1 1.000 units Units produced in July 4.000 units Units sold in July 3,200 units Selling price per unit $300 Assume there are no price, efficiency, or rate (spending) variances. a) On the following page prepare an income statement for the month of July using absorption costing. (assume any variances are noted as adjustments to Cost of Goods Sold) (8 marks)