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Costing concept. July 1 and operated at 100% of capacity during the firs Gallatin County Motors Inc. month. The following data summarize the results for Ju Variable Costing Income Statement For the Month Ended July 31 ales (16,500 units) $2,145,000 Sales V 2,145,000 roduction costs (21,000 units): Variable cost of goods sold 1,812,329 X Direct materials $1,010,100 Manufacturing margin Direct labor 485,100 Variable selling and administrative expenses V 294,300 Variable factory overhead 241,500 Contribution margin Fixed factory overhead 161,700 1,898,400 Fixed costs: selling and administrative expenses: Fixed factory overhead costs V 161,700 Variable selling and administrative expenses $294,300 Fixed selling and administrative expenses 113,900 Fixed selling and administrative expenses 113,900 408,200 Total fixed costs 275,600 Operating income required, round interim per-unit calculations to the Feedback earest cent. Check My Work . Prepare an income statement according to the b. Under variable costing, the cost of goods absorption costing concept. manufactured includes only variable manufacturing Gallatin County Motors Inc. Absorption Costing Income Statement costs. For the Month Ended July 31 Sales 2,145,000 Cost of goods sold 1,491,600 C. What is the reason for the difference in the amount Gross profit 653,400