absorption Costing Income Statement On October 31, the end of the first month of operations, Maryville Equipment Company prepared the following income statement, based on the variable costing concep Maryville Equipment Company Variable Costing Income Statement For the Month Ended October 31 Sales (11,600 units) "Variable cost of goods sold: Variable cost of goods manufactured Inventory, October 31 (1,700 units) Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income $226,100 (28,900) $39,900 34,800 $487,200 (197,200) $290,000 (127,600) $162,400 (74,700) $87,700

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Absorption Costing Income Statement
On October 31, the end of the first month of operations, Maryville Equipment Company prepared the following income statement, based on the variable costing concept:
Maryville Equipment Company
Variable Costing Income Statement
For the Month Ended October 31
Sales (11,600 units)
Variable cost of goods sold:
Variable cost of goods manufactured
Inventory, October 31 (1,700 units)
Total variable cost of goods sold
Manufacturing margin
Variable selling and administrative expenses
Contribution margin
Fixed costs:
Fixed manufacturing costs
Fixed selling and administrative expenses
Total fixed costs
Operating income.
$226,100
(28,900)
$39,900
34,800
$487,200
(197,200)
$290,000
(127,600)
$162,400
(74,700)
$87,700
Transcribed Image Text:Absorption Costing Income Statement On October 31, the end of the first month of operations, Maryville Equipment Company prepared the following income statement, based on the variable costing concept: Maryville Equipment Company Variable Costing Income Statement For the Month Ended October 31 Sales (11,600 units) Variable cost of goods sold: Variable cost of goods manufactured Inventory, October 31 (1,700 units) Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income. $226,100 (28,900) $39,900 34,800 $487,200 (197,200) $290,000 (127,600) $162,400 (74,700) $87,700
Prepare an income statement under absorption costing. Round all final answers to whole dollars.
Maryville Equipment Company
Absorption Costing Income Statement
For the Month Ended October 31
Sales
Cost of goods sold:
Cost of goods manufactured
Inventory, October 31
Total cost of goods sold
Gross profit
Selling and administrative expenses
Operating income
266,000
487,200
0000
Transcribed Image Text:Prepare an income statement under absorption costing. Round all final answers to whole dollars. Maryville Equipment Company Absorption Costing Income Statement For the Month Ended October 31 Sales Cost of goods sold: Cost of goods manufactured Inventory, October 31 Total cost of goods sold Gross profit Selling and administrative expenses Operating income 266,000 487,200 0000
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