Variable Costing Income Statement On April 30, the end of the first month of operations, Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales(4,500 units) $121,500 Cost of goods sold: Cost if goods manufactured (5,300 units) $100,700 Inventory, April 30 (700 units) (13,300) The total cost of goods sold (87,400 Gross profit $34,100 Selling and administrative expenses (21,170) Operating income $12,930 If the fixed manufacturing costs were $26,182 and the fixed selling and administrative expenses were $10,370, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars Joplin Cimpany Variable Costing Income Statement For the Month Ended April 30 Sales Variable cost of goods sold: variable cost of goods manufactured inventory, April 30 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
Variable Costing Income Statement On April 30, the end of the first month of operations, Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales(4,500 units) $121,500 Cost of goods sold: Cost if goods manufactured (5,300 units) $100,700 Inventory, April 30 (700 units) (13,300) The total cost of goods sold (87,400 Gross profit $34,100 Selling and administrative expenses (21,170) Operating income $12,930 If the fixed manufacturing costs were $26,182 and the fixed selling and administrative expenses were $10,370, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars Joplin Cimpany Variable Costing Income Statement For the Month Ended April 30 Sales Variable cost of goods sold: variable cost of goods manufactured inventory, April 30 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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Variable Costing Income Statement
On April 30, the end of the first month of operations, Joplin Company Absorption Costing Income Statement For the Month Ended April 30
Sales(4,500 units) $121,500
Cost of goods sold:
Cost if goods manufactured (5,300 units) $100,700
Inventory, April 30 (700 units) (13,300)
The total cost of goods sold (87,400
Gross profit $34,100
Selling and administrative expenses (21,170)
Operating income $12,930
If the fixed manufacturing costs were $26,182 and the fixed selling and administrative expenses were $10,370, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars
Joplin Cimpany Variable Costing Income Statement For the Month Ended April 30
Sales
Variable cost of goods sold:
variable cost of goods manufactured
inventory, April 30
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
pls do not provide solution in image format thank you!
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