= Homework: Homework... Question 1, E9-23 (simila... Part 3 of 9 HW Score: 9.29%, 0.93 of 10 points Points: 0.93 of 5 Save Amazing Screen Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2020 are as follows: The selling price per unit is $3,700. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,400 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which occurs. Read the requirements. B: (Click to view the data.) ... Requirement 1. Prepare income statements for Amazing Screen in January, February, and March 2020 under (a) variable costing and (b) absorption costing. (a). Prepare income statements for Amazing Screen in January, February, and March of 2020 under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all input fields. Enter a "0" for any zero balance accounts.) March 2020 January 2020 $ 4,625,000 February 2020 $ 5,087,500 $ 5,568,500 0 S Revenues Variable cost of goods sold: Beginning inventory Variable manufacturing costs Cost of goods available for sale Deduct ending inventory Variable cost of goods sold $ 90,000 825,000 90,000 855,000 840,000 840,000 (90,000) 915,000 (90,000) 945,000 (42,000) 750,000 906,250 825,000 996,875 903,000 1,091,125 Variable operating costs Contribution margin 2,968,750 3,265,625 3,574,375 - Data Table January February March Unit data: 0 150 150 Beginning inventory Production 1,400 1,375 1,425 Sales 1,250 1,375 1,505 Variable costs: $ 600 $ 600 $ 600 $ 725 $ 725 $ 725 Manufacturing cost per unit produced Operating (marketing) cost per unit sold Fixed costs: Manufacturing costs Operating (marketing) costs 490,000 $ 490,000 $ 490,000 $ 190,000 $ 190,000 $ 190,000 Print Done Requirements 1. Prepare income statements for Amazing Screen in January, February, and March 2020 under (a) variable costing and (b) absorption costing. 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing. Print Done (b). Prepare income statements for Amazing Screen in January, February, and March 2020 under absorption costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Enter a "0" for any zero balance accounts. Label any variances as favorable (F) or unfavorable (U). If an account does not have a variance, do not select a label. Abbreviation used; Adj. = Adjustment, Mfg. = Manufacturing.) January 2020 February 2020 March 2020 Revenues Cost of goods sold: Beginning inventory Variable manufacturing costs Allocated fixed manufacturing costs Cost of goods available for sale Deduct ending inventory LOCUI Adj. for production-volume variance Cost of goods sold Gross margin