If the fixed manufacturing costs were $18,270 and the fixed selling and administrative expenses were $8,730, prepare an income statement according to the variable costing conce 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:

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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If the fixed manufacturing costs were $18,270 and the fixed selling and administrative expenses were $8,730, 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:
Transcribed Image Text:If the fixed manufacturing costs were $18,270 and the fixed selling and administrative expenses were $8,730, 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:
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 (5,100 units)
$107,100
Cost of goods sold:
Cost of goods manufactured (5,800 units)
$87,000
Inventory, April 30 (800 units)
(12,000)
Total cost of goods sold
(75,000)
Gross profit
$32,100
Selling and administrative expenses
(17,820)
Operating income
$14,280
If the fixed manufacturing costs were $18,270 and the fixed selling and administrative expenses were $8,730, 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:
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 (5,100 units) $107,100 Cost of goods sold: Cost of goods manufactured (5,800 units) $87,000 Inventory, April 30 (800 units) (12,000) Total cost of goods sold (75,000) Gross profit $32,100 Selling and administrative expenses (17,820) Operating income $14,280 If the fixed manufacturing costs were $18,270 and the fixed selling and administrative expenses were $8,730, 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:
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The total fixed cost and Operating Income are incorrect. 

 

 

 Total fixed costs 27450

 

 $Operating income 11310

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The total fixed costs

and 

Operating Income were incorrect,

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