Please do not give solution in image format thanku Variable Costing Income StatementOn April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costingconcept:(>Sales (5,500 units)Cost of goods sold:Joplin CompanyAbsorption Costing Income Statement.For the Month Ended April 30Cost of goods manufactured (6,400 units)Inventory, April 30 (900 units)Total cost of goods sold.Gross profitSelling and administrative expensesOperating income$102,400(14,400)$126,500(88,000)$38,500(21,870)$16,630If the fixed manufacturing costs were $23,552 and the fixed selling and administrative expenses were $10,710, prepare an income statement accordingto the variable costing concept. Round all final answers to whole dollars. If the fixed manufacturing costs were $23,552 and the fixed selling and administrative expenses were $10,710, prepare an income statement accordito the variable costing concept. Round all final answers to whole dollars.Joplin CompanyVariable Costing Income StatementFor the Month Ended April 30Line Item DescriptionVariable cost of goods sold:Fixed costs:Amount Amount0 0000 00

Variable costing income statement is the one which is prepared by deducting the variable costs from…

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 costin concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (5,500 units) Cost of goods sold: Cost of goods manufactured (6,400 units) Inventory, April 30 (900 units) $102,400 (14,400) $126,500

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 costin concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (5,500 units) Cost of goods sold: Cost of goods manufactured (6,400 units) Inventory, April 30 (900 units) $102,400 (14,400) $126,500

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter7: Variable Costing For Management analysis

Section: Chapter Questions

Problem 5E: On April 30, the end of the first month of operations, Joplin Company prepared the following income...

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