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 vanable costing concept: Maryville Equipment Company Variable Costing Income Statement For the Month Ended October 31 $705,600 $315,400 (36,100) Sales (14,700 units) Variable cost of goods sold Variable cost of goods manufactured Inventory, October 31 (1,900 units) Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Foxed manufacturing costs Fixed selling and administrative expenses Total fixed costs (279,300) $426,300 (176,400 $249,900