Absorption Costing Income Statement

On May 31, the end of the first month of operations, Seger Equipment Company prepared the following income statement, based on the variable costingconcept:

Seger Equipment Company Variable Costing Income Statement For the Month Ended May 31, 2016
Sales (13,200 units)			$765,600
Variable cost of goods sold:
Variable cost of goods manufactured	$356,500
Less inventory, May 31 (2,300 units)	52,900
Variable cost of goods sold			303,600
Manufacturing margin			$462,000
Variable selling and administrative expenses			198,000
Contribution margin			$264,000
Fixed costs:
Fixed manufacturing costs	$77,500
Fixed selling and administrative expenses	52,800		130,300
Income from operations			$133,700

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

Seger Equipment Company
Absorption Costing Income Statement
For the Month Ended May 31, 2016
		$
Cost of goods sold:
	$
		$
		$