(Solved): Income Statements under Absorption Costing and Variable Costing Crazy Mountain Sports Inc, assemble ...

Income Statements under Absorption Costing and Variable Costing Crazy Mountain Sports Inc, assembles and sells snowmobile engines. The company began operations on March 1 and operated at $100\%$ of capacity during the first month. The following data summarize the results for March: If required, round interim per-unit calculations to the nearest cent. If required, round interim per-unit calculations to the nearest cent. a. Prepare an income statement according to the absorption costing concept. Fetatack. TCheok Mr Work a. Under absorptiontosting, the cost of goods manufactured includes, direct materials, direct labor, and factory overhead costs. Both fixed and variable factory costs are included as part of factory overhead. b. Prepare an income statement according to the varlable costing concept. Crazy Mountain Sports Inc. b. Prepare an income statement according to the variable costing concept.