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:

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 (13,700 units) Variable cost of goods sold: $849,400 Variable cost of goods manufactured $405,000 (62,500) Inventory, March 31 (2,500 units) Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: 342,500 $506,900 219,200 $287,700 Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs $81,000 54,800 135,800 Income from operations $151,900 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 Cost of goods sold