Absorption Costing Income Statement On October 31, the end of the first month of operations, Maryville Equipment Company prepared the following income statement, based on the variable costing concept: Maryville Equipment Company Sales (10,700 units) Variable Costing Income Statement For the Month Ended October 31 $492,200 Variable cost of goods sold: Variable cost of goods manufactured Inventory, October 31 (1,800 units) $225,000 (32,400) Total variable cost of goods sold (192,600) Manufacturing margin $299,600 Variable selling and administrative expenses (128,400) $171,200 Contribution margin Fixed costs: Fixed manufacturing costs $50,000 Fixed selling and administrative expenses 32,100 Total fixed costs (82,100) $89,100 Operating income Prepare an income statement under absorption costing. Round all final answers to whole dollars. Maryville Equipment Company Absorption Costing Income Statement For the Month Ended October 31 Line Item Description Amount Amount Cost of goods sold: 0000 All work saved. Save and Exit Next Submit Assignment for Grading