Veriable Cotting Income stotement On July 31 , the end of the first morth of cperatione, Phys Compasr prepared the fellisuidy inceme statemens, based on the absorption costing concept: a. Prepare a varibble corting income seatement, bssu ning that the fued manufactunng odets were 596,000 and the vanable selling and administrative experces mere 542,000 . In your computations, round unit costs to two decimol places and round fisal answers to the nearest dollar. income fron operabeos determines in (a). a. Prepare a variable costing income statement, assuming that the fixed manufactuning costs were $56,000 and the variable selling and administrative expenses were $40,000. In your computations, round unit costs to two decimal places and round final answers to the nearest dolfar. b. Reconcile the absorption costing income from operations $5$372,000 with the variable costing income from operations determined in (a). Reconciliation of Absorption and Variable Costing Income