1032 Chapter 20 Variable Costing for Management Analysis EX 20-5 Variable costing income statement Income from On November 30, the end of the first month of operations, Weatherford Company operations, $720,000 the following income statement, based on the absorption costing concept: Weatherford Company Absorption Costing Income Statement For the Month Ended November 30 SHOW ME HOW Sales (104,000 units) Cost of goods sold: $5,200,000 Cost of goods manufactured (120,000 units) $4,560,000 (608,000) Total cost of goods sold 3,952,000 1,248,000 Selling and administrative expenses Income from operations .. . 848,000 If the fixed manufacturing costs were $960,000 and the fixed selling and administrati the variable costing concept