Chapter 6 - Homework eBook Show Me How Calculator Print Item Income Statements under Absorption Costing and Variable Costing Joplin Industries Inc. manufactures and sells high-quality sporting goods equipment under its highly recognizable J-Sports logo. The company began operations on May 1 and operated at 100% of capacity (39,600 units) during the first month, creating an ending inventory of 3,600 units. During June, the company produced 36,000 garments during the month but sold 39,600 units at $85 per unit. The June manufacturing costs and selling and administrative expenses were as follows: Number of Units Unit Cost Total Cost Manufacturing costs in June 1 beginning inventory: Variable 3,600 3,600 Fixed $34.00 13.00 $47.00 $122,400 46,800 $169,200 Total Manufacturing costs in June: Variable Fixed 36,000 36,000 $34.00 14.30 $48.30 $1,224,000 514,800 $1,738,800 Total Selling and administrative expenses in June: Variable Fixed 39,600 39,600 16.90 7.00 23.90 $669,240 277,200 Total $946,440 a. Prepare an income statement according to the absorption costing concept for June. Check My Work 5 more Check My Work uses remaining. Assignment Score: 0.0% Save and Exit Submit Assignment for Grading Chapter 6 - Homework eBook Show Me How Calculator Print Item Joplin Industries Inc. Absorption Costing Income Statement For the Month Ended June 30 Cost of goods sold: b. Prepare an income statement according to the variable costing concept for June. Joplin Industries Inc. Variable Costing Income Statement For the Month Ended June 30 Check My Work 5 more Check My Work uses remaining.