on January 1 of the current year, townsend co. commenced operations. It operated it's plant at 100% of capacity during January. The following data summarized the results for january:

production 50,000 units
sales (18per unit) 42,000 units
inventory, January 31 8,000 units

manufacturing costs:
variable $575,000
fixed $80,000
total $655,000

selling and administration expenses
variable $35,000
fixed $10,500
total $45,000

prepare an income statement using absorption and variable costing