Absorption and variable Costing Income Statements During the first month of operations ended July 31, YoSan Inc. manufactured 9,200 flat panel televisions, of which 8,600 were sold. Operating data for the month are summarized as follows: Sales $1,290,000 Manufacturing costs: Direct materials Direct labor Variable manufacturing cost Fixed manufacturing cost Selling and administrative expenses: Variable Fixed Required: $653,200 193,200 165,600 Cost of goods sold: 82,800 1,094,800 $103,200 47,500 150,700 1. Prepare an income statement based on the absorption costing concept. YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 2. Prepare an income statement based on the variable costing concept. YoSan Inc.
