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 Variable Costing Income Statement For the Month Ended October 31
Sales (8,800 units)			$545,600
Variable cost of goods sold:
Variable cost of goods manufactured	$282,500
Inventory, October 31 (2,500 units)	(62,500)
Total variable cost of goods sold			(220,000)
Manufacturing margin			$325,600
Variable selling and administrative expenses			(140,800)
Contribution margin			$184,800
Fixed costs:
Fixed manufacturing costs	$56,500
Fixed selling and administrative expenses	35,200
Total fixed costs			(91,700)
Operating income			$93,100

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
Sales		___________
Cost of goods sold:
Cost of goods manufactured	___________
Inventory, October 31	___________
Total cost of goods sold		___________
Gross Profit		___________
Selling and administrative expenses		___________
Operating income		___________