E 10. The income statement in the traditional reporting format for Green Products, Inc., for the year ended December 31, is as follows:

Total fixed manufacturing costs for the year were $16,750. All administrative expenses are considered to be fixed.
Using this information, prepare an income statement for Green Products, Inc., for the year ended December 31, using the variable costing format.
Performance Report for a Cost Center

Transcribed Image Text:

Green Products, Inc. Income Statement For the Year Ended December 31 Sales $296,400 Cost of goods sold 112,750 Gross margin $183,650 Selling expenses Variable Fixed Administrative expenses Operating income 69,820 36,980 27,410 $ 49,440