xam 3 (Chapters 6 and 7) Income Statements under Absorption and Variable Costing Shawnee Motors Inc. assembles and sels MP3 players. The company began operations on August 1 and operated at 100% of capacity during the first month. The following data summarize the results for August Sales (9,500 units) Production costs (12,000 units) $1,045,000 Direct materials Direct labor Variable factory overhead Flxed factory overhead $488,400 234,000 117,600 78,000 918,000 Selling and administrative expenses: Variable selling and administrative expenses 142,300 Fixed selling and administrative expenses 55,100 17,400 If required, round interim per-unit calculations to the nearest cent. a. Prepare an income statement according to the absorption costing concept Shawnee Hotors Inc Absorption Costing Income Statement For the Month Ended August 31 b. Prepare an income statement according to the variable costing concept. Shawnee Motors Inc. Previous Next Remaining: 2:54:04 All work saved Email Instructor Submit Test for Gradi Type here to search