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 (9,000 units)			$504,000
Variable cost of goods sold:
Variable cost of goods manufactured	$246,400
Inventory, March 31 (2,200 units)	(48,400)
Total variable cost of goods sold			198,000
Manufacturing margin			$306,000
Variable selling and administrative expenses			135,000
Contribution margin			$171,000
Fixed costs:
Fixed manufacturing costs	$44,800
Fixed selling and administrative expenses	36,000
Total fixed costs			80,800
Income from operations			$90,200

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:
	$
		$
		$