Walsh company provided following information for August: Beginning inventory, August 1 Units produced during August Units sold during August Selling price per unit 5,000 units 30,000 units 28,000 units $75 per unit The cost information for August are as follows: Total costs Number of units Unit cost Beginning Inventory: Manufacturing costs Variable 110,000 22 5,000 5,000 Fixed 50,000 10 Total 160,000 32 Current Period: Manufacturing costs 750,000 450,000 1,200,000 30,000 30,000 Variable 25 Fixed 15 Total Selling and Admin Expenses 40 224,000 160,000 384,000 Variable 28,000 8 Fixed Total Required: Assuming that Walsh use FIFO inventory costing method, prepare an income statement for August using: Absorption Costing Varibale Costing . .