031 Absorption Income statement for the year ended It OMR OMR Particulars Sales 11 Less: Manufacturing Cost of Goods Sold - Direct material Cost : Direct Labor Cost - Manufacturing Overhead (V . F) Total manufacturing cost of goods sold Gross Profit / margin IV Less: Selling & administrative costs (V + F) V Net income (Net profit) Find: (1) Manufacturing cost of Goods sold= (2) Gross Profit- (3) Operating Income33 Straightforward Absorption and Contribution Statement Anzola Company had the following data (in millions) for a recent period. Fill in the blanks. There were no beginning or ending inventories. a. Sales $920 b. Direct materials used 350 c. Direct labor 210 Indirect manufacturing costs: ID d. Variable 100 C. Fixed 50 JUN f. Variable manufacturing cost of goods sold wab a of zanoled of ADe ma cal g. Manufacturing cost of goods sold Selling and administrative expenses: h. Variable 90 i. Fixed 80 j. Gross profit k. Contribution margin