Ht.9. Nelter Corporation, which has only one product, has provided the following data concerning its most recent month of operations:Selling priceUnits in beginning inventory$1153906,6906,570Units producedUnits sold500Units in ending inventoryVariable costs per unit:Direct materialsDirect laborVariable manufacturing overheadVariable selling and adninistrative expenseFixed costs:Fixed manufacturing overheadFixed selling and administrative expense$44$ 19$3$14$ 160,320$ 59,130The company produces the same number of units every month, although the sales in units vary from month to month. The company'svariable costs per unit and total fixed costs have been constant from month to month.Required:Prepare a contribution format income statement for the month using variable costing.. Prepare an income statement for the month using absorption costing.Complete this question by entering your answers in the tabs below.Required A Required BPrepare an income statement for the month using absorption costing. b. Prepare an income statement for the month using absorption costing.Complete this question by entering your answers in the tabs below.Required A Required BPrepare an income statement for the month using absorption costing.Absorption Costing Income StatementSalesCost of goods soldGross marginNet operating income$ 755,550534,400221,150221,150< Required ARequired B

The income statement is prepared to record the revenue and expense of the current period. It tells…

Nelter Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Unita produced Units sold Unite in ending inventory Variable costa per unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs Fixed manufacturing overhead Fixed selling and administrative expense $115 390 6,680 6,570 500 $44 $19 Required A $3 $ 14 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. Required B $ 160,320 $ 59,130 Required: Prepare a contribution format income statement for the month using variable costing. Prepare an income statement for the month using absorption costing. Complete this question by entering your answers in the tabs below.