Shawnee Motors Inc. assembles and sells MP3 players. The company began operations on August 1 and operated at 100% of capacity during the first month. The following data summarize the results for August: Sales (10,000 units) Production costs (13,000 units): $1,000,000 Direct materials Direct labor Variable factory overhead Fixed factory overhead $481,000 231,400 115,700 76,700 904,800 Selling and administrative expenses: Variable selling and administrative expenses $140,200 Fixed selling and administrative expenses 54,300 194,500 If required, round interim per-unit calculations to the nearest cent. Required:Prepare an income statement according to the absorption costing concept.

Shawnee Motors Inc.

Income Statement

For the month ended August 31, 202x

Sales revenue                                                    $1,000,000

- COGS                                                               ($696,000)

Gross profit                                                           $304,000

S&A expenses:

Operating profit                                                    $109,500

Explanation:

Sales (10,000 units) $1,000,000

Production costs (13,000 units):

Selling and administrative expenses:

COGS = (10,000 / 13,000) x $904,800 = $696,000

match each type of restriction with one of its effects.

a. land-use laws

b. labor laws

c. banking regulations

a. controlled development of towns and cities

b. protection of young workers

c. greater financial stability

answer; according to the ( irs );