Cast of Goods Manufactured, using Variable Costing and Absorption Costing On March 31, the end of the first year of operations, Barnard Inc, manufactured 3,400 units and sold 2,900 units. The following income statement was prepared, based on the variable costing concept Barnard Inc. Variable Costing Income Statement For the Year Ended March 31, 2011 Variable cost of goods s $1,210,000 5686,800 Inventory, March 31 (101,000) [585,800) 5632,200 (145,000) Contribution margie $487,300 Fland cat manufacturing s $312,800 30,600 Tutal fland cons (411,400) $75,000 Operating e Dhe of goods manufactured, and in the verable costing concapt and (b) the absorption costing concept