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Salem 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 $2,900. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,300 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 it occurs. (Click to view the data.) Dand the GARDPARRAND .. Requirement 1. Prepare income statements for Salem Screen in January, February, and March 2020 under (a) variable costing and (b) absorption costing. (a). Prepare income statements for Salem 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.) January 2020 February 2020 March 2020 III TIT HT III II - Data table March 150 1,320 1,325 January February Unit data: Beginning inventory 0 150 Production 1,300 1,200 Sales 1,150 1,200 Variable costs: Manufacturing cost per unit produced $ 850 $ 850 $ Operating (marketing) cost per unit sold $ 775 $ 775 $ Fixed costs: Manufacturing costs $ 533,000 $ 533,000 $ Operating (marketing) costs $ 180,000 $ 180,000 $ 850 775 533,000 180,000 Print Done Requirements 1. Prepare income statements for Salem 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

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