A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (5,000 units): Direct materials-$70,000 Direct labor-20,000 Variable factory overhead-10,000 Fixed factory overhead-20,000

total $102,000 Operating expenses: Variable operating expenses-$17,000 Fixed operating expenses-1,000

total $18000 Prepare a variable income statement assuming 1000 units remain unsold at the end of the month and sales total $160,000 for the month