Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income $46,500 41,400 Cost of goods sold: $193,200 (87,900) $105,300 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 Line Item Description Amount Amount

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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 (13,800 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
$263,500
(28,900)
$46,500
41,400
$579,600
(234,600)
$345,000
(151.800)
$193,200
(87,900)
$105,300
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 (13,800 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 $263,500 (28,900) $46,500 41,400 $579,600 (234,600) $345,000 (151.800) $193,200 (87,900) $105,300
Contribution margin
Fixed costs:
Fixed manufacturing costs
Fixed selling and administrative expenses
Total fixed costs
Operating income
$46,500
41,400
Cost of goods sold:
$193,200
(87,900)
$105,300
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
Line Item Description Amount Amount
Transcribed Image Text:Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income $46,500 41,400 Cost of goods sold: $193,200 (87,900) $105,300 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 Line Item Description Amount Amount
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