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

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Accounting

Variable Costing Income Statement

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

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Variable Costing Income Statement On November 30, the end of the first month of operations, Weatherford Company prepared the following income statement, based on the absorption costing concept: Weatherford Company Absorption Costing Income Statement For the Month Ended November 30 Sales (6,700 units) Cost of goods sold 247,900 Cost of goods manufactured (7,900 units) $205,400 Inventory, November 30 (1,100 units) Total cost of goods sold Gross profit Selling and administrative expenses Income from operations Assume the fixed manufacturing costs were $51,350 and the fixed selling and administrative expenses were $21,030. Prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. (28,600) 176,800 $71,100 42,940 $28,160 Prepare an income statement according to the variable costing concept. Round all final answers to whole dollars Weatherford Company Variable Costing Income Statement For the Month Ended November 30 Variable cost of goods sold: Fixed costs

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