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.