Prepare income statement according variable costing concept

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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 Line Item Description Amount Amount Sales (4,900 units) $107,800 Cost of goods sold: Cost of goods manufactured (5,586 units) $89,376 Inventory, April 30 (686 units) (10,976) Total cost of goods sold (78,400) Gross profit $29,400 Selling and administrative expenses (18,840) Operating income $10,560 If the fixed manufacturing costs were $24,131.52 and the fixed selling and administrative expenses were $9,230, prepare an income statement according to the variable costing concept. Get the instant assignment help.

Reference no: EM133906246

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