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Variable Costing Income Statement On April 30, the end of the first month of operations,...

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Accounting

Variable Costing Income Statement

On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept:

Joplin Company Absorption Costing Income Statement For the Month Ended April 30
Sales (4,000 units) $108,000
Cost of goods sold:
Cost of goods manufactured (4,600 units) $87,400
Inventory, April 30 (600 units) (11,400)
Total cost of goods sold (76,000)
Gross profit $32,000
Selling and administrative expenses (17,860)
Operating income $14,140

If the fixed manufacturing costs were $18,354 and the fixed selling and administrative expenses were $8,750, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars.

Joplin Company Variable Costing Income Statement For the Month Ended April 30
_____?______ $___
Variable cost of goods sold:

_____?____________

 $___

____?_________

 ____

______?_________

 ____

____?__________

 $____

_____?_______

 ____
______?___________

$____
Fixed costs:

_____?____________

 $____
_____?___________ ____

____?________

 _____
_____?________ $____

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