Absorption Costing Income Statement

On March 31, the end of the first month of operations, Sullivan Equipment Company prepared the following income statement, based on the variable costing concept:

Sullivan Equipment Company Variable Costing Income Statement For the Month Ended March 31
Sales (13,500 units)			$567,000
Variable cost of goods sold:
Variable cost of goods manufactured	$258,400
Inventory, March 31 (1,700 units)	(28,900)
Total variable cost of goods sold			229,500
Manufacturing margin			$337,500
Variable selling and administrative expenses			148,500
Contribution margin			$189,000
Fixed costs:
Fixed manufacturing costs	$45,600
Fixed selling and administrative expenses	40,500
Total fixed costs			86,100
Income from operations			$102,900

Prepare an income statement under absorption costing. Round all final answers to whole dollars.

Sullivan Equipment Company
Absorption Costing Income Statement
For the Month Ended March 31
Sales		$
Cost of goods sold:
Cost of goods manufactured	$
Inventory, March 31
Total cost of goods sold
Gross profit		$
Selling and administrative expenses
Income from operations		$