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Part 8 Variable Costing and Full Absorption Costing: Inventory Changes (20 points) The company's Fixed...

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Part 8 Variable Costing and Full Absorption Costing: Inventory Changes (20 points) The company's Fixed Manufacturing Cost is $30,000 each month. In month 1, one unit is completed and one unit is half completed [thus $20,000 of Fixed Manufacturing Costs are included in each finished unit under Absorption Costing]. In month two, the second unit is completed and a third unit is started and completed. All three units are sold in Period 2 . Disregard sales and variable costs when completing the company's income statements. Comparative Income Statements Complete The income Statement Reconciliation of the two costing approaches is shown below. Absorption Costing Income 0 i I Note: ($60,000) represents two months of Fixed Manufacturing Costs. Required Fill in the appropriated spaces for lines 1 through I. Show some work

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