If the fixed manufacturing costs were $16,254 and the fixed selling and administrative expenses were $6,600, prepare 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 Sales v 74,000 Variable cost of goods sold: Variable cost of goods manufactured v 43,946 Inventory, April 30 v 6,132 Total variable cost of goods sold v Manufacturing margin v Variable selling and administrative expenses v 6,880 Contribution margin v X Fixed costs: Fixed manufacturing costs 16,254 Fixed selling and administrative expenses 6,600 V Total fixed costs v 22,854 Operating income v

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Chapter1: Financial Statements And Business Decisions
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If the fixed manufacturing costs were $16,254 and the fixed selling and administrative expenses were $6,600, prepare ar
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
Sales v
74,000
Variable cost of goods sold:
Variable cost of goods manufactured v
43,946
Inventory, April 30
6,132
Total variable cost of goods sold v
Manufacturing margin v
Variable selling and administrative expenses
6,880
Contribution margin
X
Fixed costs:
Fixed manufacturing costs
16,254
Fixed selling and administrative expenses v
6,600
Total fixed costs
22,854
Operating income
Transcribed Image Text:If the fixed manufacturing costs were $16,254 and the fixed selling and administrative expenses were $6,600, prepare ar 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 Sales v 74,000 Variable cost of goods sold: Variable cost of goods manufactured v 43,946 Inventory, April 30 6,132 Total variable cost of goods sold v Manufacturing margin v Variable selling and administrative expenses 6,880 Contribution margin X Fixed costs: Fixed manufacturing costs 16,254 Fixed selling and administrative expenses v 6,600 Total fixed costs 22,854 Operating income
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 (3,700 units)
$74,000
Cost of goods sold:
Cost of goods manufactured (4,300 units)
$60,200
Inventory, April 30 (600 units)
(8,400)
Total cost of goods sold
(51,800)
Gross profit
$22,200
Selling and administrative expenses
(13,480)
Operating income
$8,720
If the fixed manufacturing costs were $16,254 and the fixed selling and administrative expenses were $6,600, prepare an
income statement according to the variable costing concept. Round all final answers to whole dollars.
Transcribed Image Text: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 (3,700 units) $74,000 Cost of goods sold: Cost of goods manufactured (4,300 units) $60,200 Inventory, April 30 (600 units) (8,400) Total cost of goods sold (51,800) Gross profit $22,200 Selling and administrative expenses (13,480) Operating income $8,720 If the fixed manufacturing costs were $16,254 and the fixed selling and administrative expenses were $6,600, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars.
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