Oakes Company,which has only one product,has provided the following data concerning its most recent month of operations: 
Required:
a)Prepare an income statement for the month using the contribution format and the variable costing method.
b)Prepare an income statement for the month using the absorption costing method.
Definitions:
Due Date
The specific day by which something is due or expected to be completed, such as a payment or assignment.
Product Completion
The final stage in the production process where a product is finished and ready for sale.
Backward Scheduling
Scheduling that involves arranging production activities around the due date for the product.
Efficiency
The ability to accomplish a task or produce a desired outcome with the minimum amount of waste, expense, or unnecessary effort.
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