Show Me HowE Print ItêmIncome Statements under Absorption Costing and Variable CostingGallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month.The following data summarize the results for July:Sales (11,500 units)$1,380,000Production costs (15,000 units):Direct materials$666,000Direct labor319,500Variable factory overhead160,500Fixed factory overhead106,5001,252,500Selling and administrative expenses:Variable selling and administrative expenses$194,100Fixed selling and administrative expenses75,200269,300If required, round interim per-unit calculations to the nearest cent.a. Prepare an income statement according to the absorption costing concept.Gallatin County Motors Inc.Absorption Costing Income StatementFor the Month Ended July 31 еBookShow Me HowPrint ItemFor the Month Ended July 31b. Prepare an income statement according to the variable costing concept.Gallatin County Motors Inc.Variable Costing Income StatementFor the Month Ended July 31Fixed costs:

Name: Show Me HowE Print ItêmIncome Statements under Absorption Costing and
Uploaded: 2024-03-20T06:33:06.000Z
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Description: Show Me HowE Print ItêmIncome Statements under Absorption Costing and Variable CostingGallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month.