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 (2,700 units) Cost of goods sold: Cost of goods manufactured (3,100 units) Inventory, April 30 (400 units) Total cost of goods sold Gross profit Selling and administrative expenses Operating income Joplin Company Variable Costing Income Statement For the Month Ended April 30 $62,000 (8,000) Variable cost of goods sold: $75,600 If the fixed manufacturing costs were $14,260 and the fixed selling and administrative expenses were $6,200, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. (54,000) $21,600 (12,660) $8,940
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 (2,700 units) Cost of goods sold: Cost of goods manufactured (3,100 units) Inventory, April 30 (400 units) Total cost of goods sold Gross profit Selling and administrative expenses Operating income Joplin Company Variable Costing Income Statement For the Month Ended April 30 $62,000 (8,000) Variable cost of goods sold: $75,600 If the fixed manufacturing costs were $14,260 and the fixed selling and administrative expenses were $6,200, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. (54,000) $21,600 (12,660) $8,940
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:If the fixed manufacturing costs were $14,260 and the fixed selling and administrative expenses were $6,200, 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:
Check My Work
28,940
0000 00
00
0.0
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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 (2,700 units)
Cost of goods sold:
Cost of goods manufactured (3,100 units)
Inventory, April 30 (400 units)
Total cost of goods sold
Gross profit
< Selling and administrative expenses
Operating income
Joplin Company
Variable Costing Income Statement
For the Month Ended April 30
Variable cost of goods sold:
$62,000
(8,000)
If the fixed manufacturing costs were $14,260 and the fixed selling and administrative expenses were $6.200, prepare an income statement according to
the variable costing concept. Round all final answers to whole dollars.
My Work
$75,600
(54,000)
$21,600
(12,660)
$8,940
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