2.ceng genow.com MATWA Corowanie twaching and learning 11.45-15.00 Ch 21 Homework ebook Variable Cat Income Statement On y, the end of the first month of operations, Rhys Company prepared the following income statement, tated on the absorption cente concept Sales (21,000 to 51,525.000 Cost of goods sold Cost of goods manufactured $1,168,750 Les ending inventory (4,000 unit) 187,000 Cont of goods sold 981,750 Grow profit 1593,250 Selling and administrative 79,000 Income from operation 5514.250 Prepare a variable income statement, ming that the feed manufacturing couts were $80,000 and the variable dating and active pere 30,000 computations, round it costs to two decimal places and round flowers to the nearest der Rhys Company Income Statement Variable Couting For the Month Ended July 31 Sales Va cost of good old Variable cost of goods manufactured Less ending inventory Variable cast of woods sole - www. Ch 21 Homework eBook 1,118,750 -179,000 Variable cost of goods sold: Variable cost of goods manufactured Less ending inventory Variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin 9.39,750 36,000 599,250 Fixed costs: 50,000 Fixed manufacturing costs Fixed selling and administrative expenses Income from operations 43,000 -93,000 506,250 b. Reconcite the absorption conting incomorrom operations of $514,250 with the variable costing Income from operations determined in Reconciliation of Absorption and Variable Costing Income Absorption costing income from operations Variable casting income from operations Difference