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On October 31, the end of the first month of operations, Maryville Equi Maryville Equipment Company Variable Costing Income Statement For the Month Ended October 31 Sales (9,000 units) Variable cost of goods sold: Variable cost of goods manufactured Inventory, October 31 (2,500 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 $287,500 (62,500) $57,500 36,000 $558,000 (225,000) $333,000 (144,000) $189,000 (93,500) $95,500 Prepare an income statement under absorption costing. Round all final answers to whole dollars.

On October 31, the end of the first month of operations, Maryville Equi Maryville Equipment Company Variable Costing Income Statement For the Month Ended October 31 Sales (9,000 units) Variable cost of goods sold: Variable cost of goods manufactured Inventory, October 31 (2,500 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 $287,500 (62,500) $57,500 36,000 $558,000 (225,000) $333,000 (144,000) $189,000 (93,500) $95,500 Prepare an income statement under absorption costing. Round all final answers to whole dollars.

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On October 31, the end of the first month of operations, Maryville Equipment Company prepared the following income statement, based om Maryville Equipment Company Variable Costing Income Statement For the Month Ended October 31 Sales (9,000 units) Variable cost of goods sold: Variable cost of goods manufactured Inventory, October 31 (2,500 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 4 Absorption Costing Income Statement For the Month Ended October 31 Cost of goods sold: $287,500 (62,500) 0000 $57,500 36,000 $558,000 Prepare an income statement under absorption costing. Round all final answers to whole dollars. Maryville Equipment Company (225,000) $333,000 (144,000) $189,000 (93,500) $95,500
Transcribed Image Text:On October 31, the end of the first month of operations, Maryville Equipment Company prepared the following income statement, based om Maryville Equipment Company Variable Costing Income Statement For the Month Ended October 31 Sales (9,000 units) Variable cost of goods sold: Variable cost of goods manufactured Inventory, October 31 (2,500 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 4 Absorption Costing Income Statement For the Month Ended October 31 Cost of goods sold: $287,500 (62,500) 0000 $57,500 36,000 $558,000 Prepare an income statement under absorption costing. Round all final answers to whole dollars. Maryville Equipment Company (225,000) $333,000 (144,000) $189,000 (93,500) $95,500
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