Variable Costing Income Statement On July 31, the end of the first month of operations, Rhys Company prepared the following income statement, based on the absorption conting concept Sales (21,000 units) $1,575,000 Cost of goods sold Cost of goods manufactured 51,168,750 Less ending Inventory (4,000 units) 187,000 Cost of goods sold 981,750 Gross profit $593,250 Selling and administrative expenses 79.000 Income from operations $514,250 a. Prepare a variable costing income statement, auming that the feed manufacturing costs were $50,000 and the variating and administrative expenses were $36,000. In your computations, round unt costs to two decimal places and round final awwers to the start dollar Rhys Company Income Statement-Variable Costing For the Month Ended July 31 Variable cost of goods sold Cargowa Oching and learning... eBook UUSI VUOS.com MOST WOwng administrative expenses were $36,000. In your computations, round unit costs to two decimal places and round final answers to the nearest dollar Rhys Company Income Statement-Variable Costing For the Month Ended July 31 Variable cost of goods sold: Fixed costs Income from operations Accounting numeric field D. Reconcile the absorption conting Income from operations of 5514,250 with the variable costing income from operations determined in (a). Reconciliation of Absorption and Variable Costing Income ... Foxed costs Income from operations b. Reconcile the absorption costing income from operations of $514.250 with the variabile conting income from operatione determined in 0. Reconciliation of Absorption and Variable Costing Income Absorption costing income from operations Variable costing income from operations Difference Email Instructor Save and Est Sutomt Anderment for Grading