(Answered) : Income Statements under Absorption and Variable Costing Shawnee Motors Inc. assembles and sells MP3 players. The company began ope

Income Statements under Absorption and Variable Costing Shawnee Motors Inc. assembles and sells 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 (20,000 units) Production costs (26,000 units): $2,400,000 Direct materials Direct labor Variable factory overhead Fixed factory overhead $1,154,400 553,800 278,200 184,600 2,171,000 Selling and administrative expenses: Variable selling and administrative expenses Fixed selling and administrative expenses $336,500 130,300 466,800 If required, round interim per-unit calculations to the nearest cent. a. Prepare an income statement according to the absorption costing