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 co concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (3,000 units) $90,000 Cost of goods sold: Cost of goods manufactured (3,420 units) Inventory, April 30 (420 units) $71,820 (8,820) Total cost of goods sold (63,000) Gross profit $27,000 Selling and administrative expenses (16,150) $10,850 Operating income If the fixed manufacturing costs were $18,673.2 and the fixed selling and administrative expenses were $7,910, prepare an income stat 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 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 co concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (3,000 units) $90,000 Cost of goods sold: Cost of goods manufactured (3,420 units) Inventory, April 30 (420 units) $71,820 (8,820) Total cost of goods sold (63,000) Gross profit $27,000 Selling and administrative expenses (16,150) $10,850 Operating income If the fixed manufacturing costs were $18,673.2 and the fixed selling and administrative expenses were $7,910, prepare an income stat 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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 co
concept:
Joplin Company
Absorption Costing Income Statement
For the Month Ended April 30
Sales (3,000 units)
$90,000
Cost of goods sold:
Cost of goods manufactured (3,420 units)
Inventory, April 30 (420 units)
$71,820
(8,820)
Total cost of goods sold
(63,000)
Gross profit
$27,000
Selling and administrative expenses
(16,150)
$10,850
Operating income
If the fixed manufacturing costs were $18,673.2 and the fixed selling and administrative expenses were $7,910, prepare an income stat
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
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